An investigation on behalf of investors of Susquehanna Bancshares Inc (NASDAQ:SUSQ) in connection with the proposed takeover was announced and NASDAQ:SUSQ stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/19/2014 -- An investigation on behalf of investors, who currently hold shares of Susquehanna Bancshares Inc (NASDAQ:SUSQ), was announced concerning whether the takeover of Susquehanna Bancshares Inc by BB&T Corporation for a value of $13.50 per share is unfair to NASDAQ:SUSQ stockholders.
Investors who purchased shares of Susquehanna Bancshares Inc (NASDAQ:SUSQ) and currently hold any of those NASDAQ:SUSQ shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Susquehanna Bancshares Inc breached their fiduciary duties owed to NASDAQ:SUSQ investors in connection with the proposed acquisition.
On November 12, 2014, BB&T Corporation (NYSE: BBT) and Susquehanna Bancshares, Inc. (NASDAQ: SUSQ) announced the signing of an agreement under which BB&T will acquire Susquehanna Bancshares Inc (NASDAQ:SUSQ) in a cash and stock transaction for total consideration valued at approximately $2.5 billion. Under the terms of the agreement, which was approved by the Board of Directors of each company, shareholders of Susquehanna Bancshares Inc (NASDAQ:SUSQ) will receive as merger consideration 0.253 shares of BB&T common stock and$4.05 in cash for each share of Susquehanna common stock. The merger consideration is valued at $13.50 per share based on the average closing price of BB&T over the 45 trading days ending on November 10, 2014.
However, given that at least one analyst has set a high target price for NASDAQ:SUSQ shares at $14.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:SUSQ stockholders. More specifically, the investigation concerns whether the Susquehanna Bancshares 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.
Susquehanna Bancshares Inc reported that its Net Income rose from $31.85 million in 2010 to $173.68 million in 2013. Shares of Susquehanna Bancshares Inc (NASDAQ:SUSQ) grew from $5.41 per share in September 2011 to as high as $14.34 per share on July 24, 2013.
On November 17, 2014, NASDAQ:SUSQ shares closed at $13.04 per share.
Those who are current investors in Susquehanna Bancshares Inc (NASDAQ:SUSQ) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego