MB Financial (MBFI) Alert: Johnson Fistel Investigates Proposed Sale of MB Financial, Inc.; Is the Deal in the Best Interest of Shareholders?
SAN DIEGO- PRNewswire —May 21, 2018
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of MB Financial, Inc. (“MB Financial”) (NASDAQ: MBFI) breached their fiduciary duties in connection with the proposed sale of the Company to Fifth Third Bancorp (“Fifth Third”)(NASDAQ: FITB).
On May 21, 2018, MB Financial announced that it had signed a definitive merger agreement with Fifth Third. Under terms of the deal, MB Financial shareholder will receive $54.20, comprising 1.45 shares of Fifth Third common stock and $5.54 in cash. However, shareholders will be subject to the future price fluctuation of Fifth Third’s stock price.
The investigation concerns whether the MB Financial board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for MB Financial shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company’s projected revenue and earnings growth.
If you are a shareholder of MB Financial and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.