An investigation on behalf of investors of MB Financial, Inc. (NASDAQ: MBFI) in connection with the proposed takeover was announced and NASDAQ: MBFI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/29/2018 -- An investigation was announced concerning whether the takeover of MB Financial, Inc. by Fifth Third Bancorp is unfair to NASDAQ: MBFI stockholders.
Investors who purchased shares of MB Financial, Inc. (NASDAQ: MBFI) and currently hold any of those NASDAQ: MBFI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain irectors of MB Financial, Inc. breached their fiduciary duties owed to NASDAQ: MBFI investors in connection with the proposed acquisition.
On May 21, 2018, Fifth Third Bancorp (Nasdaq: FITB) and MB Financial, Inc. (Nasdaq: MBFI) announced the signing of a definitive merger agreement under which MB Financial, Inc. will merge with Fifth Third Bancorp in a transaction valued at approximately $4.7 billion. Based on the closing price of Fifth Third's common shares on May 18, 2018, common shareholders of MB Financial will receive $54.20 of total consideration, consisting of 1.45 shares of Fifth Third common stock and $5.54 in cash for each share of MB Financial common stock.
However, given that at least one analyst has set the high target price for NASDAQ:MBFI shares at $56.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MBFI stockholders. More specifically, the investigation concerns whether the MB Financial 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.
Shares of MB Financial, Inc. (NASDAQ: MBFI) closed on May 25, 2018, at $50.56 per share.
Those who are current investors in MB Financial, Inc. (NASDAQ: MBFI) 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