An investigation on behalf of investors of Citizens Republic Bancorp, Inc. (NASDAQ:CRBC) in connection with the takeover was announced and NASDAQ:CRBC stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 09/17/2012 --An investigation on behalf of investors in Citizens Republic Bancorp, Inc. (NASDAQ:CRBC) shares was announced concerning whether the offer by FirstMerit Corporation to acquire Citizens Republic Bancorp, Inc. for a value of $22.50 per NASDAQ:CRBC share and the takeover process are unfair to investors in NASDAQ:CRBC shares.

Investors who purchased shares of the Citizens Republic Bancorp, Inc. (NASDAQ:CRBC) prior to September 12, 2012, and currently hold any of those NASDAQ:CRBC 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 Citizens Republic Bancorp, Inc. breached their fiduciary duties owed to NASDAQ:CRBC investors in connection with the proposed acquisition.

On September 12, 2012, FirstMerit Corporation (NASDAQ: FMER) and Citizens Republic Bancorp, Inc. (NASDAQ: CRBC) announced that they have entered into an agreement under which FirstMerit will acquire Citizens Republic Bancorp, Inc in a stock-for-stock transaction with a total value of approximately $912 million based on FirstMerit’s average ten-day closing stock price ended September 12, 2012. Under the terms of the proposed transaction Citizens Republic Bancorp’ shareholders will receive a fixed 1.37 shares of FirstMerit (NASDAQ: FMER) common stock in exchange for each share of Citizens’ common stock.

Based on FirstMerit’s average ten-day closing stock price ended September 12, 2012, the implied value of a Citizens’ share would be $22.50.

However, Citizens Republic Bancorp’s financial performance improved lately. Its Net Loss of $514.21 million in 2009 turned into a Net Income of $6.67 million in 2011. In addition, shares of Citizens Republic Bancorp, Inc. (NASDAQ:CRBC) grew at an exceptional growth rate. Its shares grew within 12 months from $6.65 per share in August 2011 to $20.58 per share in August 2012.

Therefore, the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:CRBC stockholders. Specifically, the investigation focuses on whether the Citizens Republic 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 Citizens Republic Bancorp, Inc. (NASDAQ:CRBC) and purchased their Citizens Republic Bancorp, Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

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