An investigation on behalf of investors of Heritage Financial Group Inc (NASDAQ:HBOS) in connection with the proposed takeover was announced and NASDAQ:HBOS stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 12/17/2014 --An investigation on behalf of investors, who currently hold shares of Heritage Financial Group Inc (NASDAQ:HBOS), was announced concerning whether the takeover of Heritage Financial Group Inc by Renasant Corporation for a value of $27.00 per share is unfair to NASDAQ:HBOS stockholders.

Investors who purchased shares of Heritage Financial Group Inc (NASDAQ:HBOS) and currently hold any of those NASDAQ:HBOS 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 officers and directors of Heritage Financial Group Inc breached their fiduciary duties owed to NASDAQ:HBOS investors in connection with the proposed acquisition.

On December 10, 2014, Renasant Corporation (NASDAQ: RNST) and Heritage Financial Group, Inc. (NASDAQ: HBOS) announced the signing of a merger agreement pursuant to which Renasant Corporation will acquire, in an all-stock merger, Heritage Financial Group, Inc., and the parent of HeritageBank of the South. According to the terms of the merger agreement, Heritage Financial Group Inc (NASDAQ:HBOS) stockholders will receive 0.9266 shares of Renasant common stock for each share of NASDAQ:HBOS common stock, and the merger is expected to qualify as a tax-free reorganization for Heritage stockholders. Based on Renasant's 20-day average closing price of $29.14 per share as of December 9, 2014, the aggregate deal value is approximately $258 million or $27.00 per share.

However, given that at least one analyst has set the high target price for NASDAQ:HBOS shares at $28.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:HBOS stockholders. More specifically, the investigation concerns whether the Heritage Financial Group 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.

Heritage Financial Group Inc reported that its annual Net Income increased from $1.41 million in 2010 to $11.31 million in 2013. Shares of Heritage Financial Group Inc (NASDAQ:HBOS) grew from $8.50 in late 2010 to as high as $22.20 per share on December 8, 2014.

On December 15, 2014, NASDAQ:HBOS shares closed at $25.33 per share.

Those who are current investors in Heritage Financial Group Inc (NASDAQ:HBOS) 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