An investigation on behalf of investors of Ameriana Bancorp (NASDAQ:ASBI) in connection with the proposed takeover was announced and NASDAQ:ASBI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 07/15/2015 --An investigation on behalf of investors, who currently hold shares of Ameriana Bancorp (NASDAQ:ASBI), was announced concerning whether the takeover of Ameriana Bancorp. by First Merchants Corporation for a value of approximately $22.71 per share is unfair to NASDAQ:ASBI stockholders.

Investors who purchased shares of Ameriana Bancorp (NASDAQ:ASBI) and currently hold any of those NASDAQ:ASBI 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 Ameriana Bancorp (NASDAQ:ASBI breached their fiduciary duties owed to NASDAQ:ASBI investors in connection with the proposed acquisition.

On June 29, 2015, First Merchants Corporation (NASDAQ: FRME) and Ameriana Bancorp (NASDAQ: ASBI) announced they have executed an agreement whereby Ameriana Bancorp will merge with and into First Merchants Corporation, and its wholly owned bank subsidiary, Ameriana Bank, will merge with and into First Merchants Bank, NA. The merger agreement provides that shareholders of Ameriana Bancorp will have the right to exchange each Ameriana Bancorp common share held for 0.9037 shares of First Merchants' common stock. Based on the closing price of First Merchants' common stock on June 26, 2015 of $25.13, the transaction value is approximately $68.8 million, with an implied price per share of Ameriana Bancorp common stock of $22.71.

However, the investigation concerns whether the offer is unfair to NASDAQ:ASBI stockholders. More specifically, the investigation concerns whether the Ameriana 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.

Ameriana Bancorp reported that its Net Inceom increased from $1.14 million in 2011 to $2.37 million in 2014. Shares of Ameriana Bancorp (NASDAQ:ASBI) grew from $3.84 per share in October 2011 to as high as $18.50 per share in late 2014.

On July 13, 0215, NASDAQ:ASBI shares closed at $22.48 per share.

Those who are current investors in Ameriana Bancorp (NASDAQ:ASBI) 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