An investigation on behalf of investors of Metro Bancorp Inc (NASDAQ:METR) in connection with the proposed takeover was announced and NASDAQ:METR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/10/2015 -- An investigation on behalf of investors, who currently hold shares of Metro Bancorp Inc (NASDAQ:METR), was announced concerning whether the takeover of Metro Bancorp Inc. by F.N.B. Corporation for a value of approximately $32.72 per share is unfair to NASDAQ:METR stockholders.
On August 04, 2015, F.N.B. Corporation (NYSE: FNB) and Metro Bancorp, Inc. ("Metro") (NASDAQ: METR) jointly announced the signing of a merger agreement pursuant to which F.N.B. Corporation will acquire Metro Bancorp, Inc., the holding company and parent of Metro Bank, in an all-stock transaction valued at approximately $32.72 per share, or $474 million in the aggregate.
Investors who purchased shares of Metro Bancorp Inc (NASDAQ:METR) and currently hold any of those NASDAQ:METR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Metro Bancorp Inc breached their fiduciary duties owed to NASDAQ:METR investors in connection with the proposed acquisition.
Given that at least one analyst has set the high target price of NASDAQ:METR shares at $38.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:METR stockholders. More specifically, the investigation concerns whether the Metro Bancorp 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.
On September 8, 2015, NASDAQ:METR shares closed at $29.45 per share.
Those who are current investors in Metro Bancorp Inc (NASDAQ:METR) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com