Firstmerit Corp (NASDAQ:FMER) Shareholder Alert: Investigation over Potential Wrongdoing in Buyout

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

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San Diego, CA -- (SBWire) -- 02/16/2016 --An investigation for shareholders in shares of Firstmerit Corp (NASDAQ:FMER), was announced concerning the acquisition of Firstmerit Corp. by Huntington Bancshares Incorporated.

On January 26, 2016, Huntington Bancshares Incorporated and FirstMerit Corporation jointly announced the signing of a merger agreement under which FirstMerit Corporation, the parent company of FirstMerit Bank, will merge into Huntington in a stock and cash transaction. Based on the closing price of Huntington's common shares on January 25, 2016 of $8.80, the total transaction value is approximately $3.4 billion, including outstanding options and other equity linked securities.

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

Shareholders of FirstMerit Corporation will receive 1.72 shares of Huntington common stock, and $5.00 in cash, for each share of FirstMerit Corporation common stock. The per share consideration is valued at $20.14 per share based on the closing price of Huntington common stock on January 25, 2016.

However, given that at least one analyst has set the high target price for NASDAQ:FMER shares at $24.78 per share, the investigation concerns whether the offer is unfair to NASDAQ:FMER stockholders. More specifically, the investigation concerns whether the Firstmerit 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.

On February 12, 2016, NASDAQ:FMER shares closed at $19.04 per share.

Those who are current investors in Firstmerit Corp (NASDAQ:FMER) 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

Media Relations Contact

Michael Daniels
General Manager
Shareholders Foundation
858-779-1554
http://www.ShareholdersFoundation.com

View this press release online at: http://rwire.com/665301