An investigation on behalf of investors of Flagstar Bancorp, Inc. (NYSE:FBC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 05/03/2021 -- An investigation was announced concerning takeover of Flagstar Bancorp, Inc.
Investors who purchased shares of Flagstar Bancorp, Inc. (NYSE: FBC) and currently hold any of those NYSE: FBC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Flagstar Bancorp, Inc. breached their fiduciary duties owed to NYSE: FBC investors in connection with the proposed acquisition.
Troy, MI based Flagstar Bancorp, Inc. operates as a savings and loan holding company for Flagstar Bank, FSB that provides commercial and consumer banking services to consumer, commercial, and government customers in the United States.
On April 26, 2021, New York Community Bancorp, Inc. (NYSE: NYCB) and Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar"), jointly announced that they have entered into a merger agreement under which the two companies will combine in an all stock merger. Under terms of the agreement, Flagstar Bancorp, Inc. (NYSE: FBC) shareholders will receive 4.0151 shares of New York Community Bancorp, Inc. (NYSE: NYCB) common stock for each Flagstar Bancorp, Inc. (NYSE: FBC) share they own.
Based on a closing price of $11.99 per NYSE: NYCB on April 23, 2021, investors in Flagstar Bancorp, Inc. (NYSE: FBC) will receive a value of approximately $48.14 per NYSE: FBC share.
However, given that at least one analyst has set the high target price for NYSE: FBC at $60.00 per share, the investigation concerns whether the offer is unfair to NYSE: FBC stockholders. More specifically, the investigation concerns whether the Flagstar 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.
Those who are current investors in Flagstar Bancorp, Inc. (NYSE: FBC) shares have certain options and should contact the Shareholders Foundation.
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