San Diego, CA -- (SBWIRE) -- 02/12/2013 -- An investigation on behalf of investors in First M & F Corporation (NASDAQ:FMFC) shares was announced concerning whether the offer by Renasant Corporation to acquire First M & F Corporation at a value of about $12.35 per NASDAQ:FMFC share and the takeover process are unfair to investors in NASDAQ:FMFC shares.

Investors who purchased shares of First M & F Corporation (NASDAQ:FMFC) prior to Feb. 7, 2013, and currently hold any of those NASDAQ:FMFC shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of First M & F Corporation breached their fiduciary duties owed NASDAQ:FMFC investors in connection with the proposed acquisition.

On Feb. 7, 2013, Renasant Corporation (NASDAQ: RNST) and First M&F Corporation (NASDAQ: FMFC) announced the signing of a merger agreement pursuant to which Renasant Corporation will acquire First M&F Corporation. According to the terms of the merger agreement First M&F Corporation (NASDAQ: FMFC) common shareholders will receive 0.6425 shares of Renasant Corporation (NASDAQ: RNST) common stock for each NASDAQ: FMFC common stock, and the merger is expected to qualify as a tax-free reorganization for First M&F Corporation shareholders. Based on Renasant's 10-day average closing price of $19.22 per NASDAQ: RNST share as of February 4, 2013, the aggregate common stock consideration is approximately $118.8 million or a value at approximately $12.35 per NASDAQ: FMFC share.

However, First M & F Corporation’s financial performance improved lately. For instance, First M & F Corporation reported that its Net Income increased from $4.01 million in 2010 to $4.37 million in 2011. For the first three quarters in 2012 First M & F Corporation reported a combined nine months Net Income of $5.15 million. Furthermore, shares of First M & F Corporation (NASDAQ:FMFC) grew from as low as $1.97 per share in November 2009 to as high as $8.84 per share in October 2012.

Therefore the investigation a law firm concerns whether the proposed transaction is unfair to First M & F Corporation (NASDAQ:FMFC stockholders.

Specifically, the investigation focuses on whether the First M & F Corporation (NASDAQ:FMFC Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in First M & F Corporation (NASDAQ:FMFC), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com