WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MainSource Financial Group Inc. (“MSFG” or the “Company”) (NASDAQ: MSFG) in connection with the proposed acquisition of the Company by First Financial Bancorp (“FFBC”) (NASDAQ: FFBC). Under the terms of the acquisition agreement, the Company’s shareholders will receive 1.3875 shares of FFBC for each MSFG share they own, representing consideration of $35.66 based on FFBC’s July 26 closing price.
WeissLaw is investigating whether MSFG’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the acquisition announcement, at least one analyst set a target price of $39.00 per share, or $3.34 over the per-share consideration. Additionally, MSFG shares traded at $35.63 as recently as March of this year.
Moreover, according to the acquisition announcement, the transaction, which will combine “two high-performing Midwest community banks,” will create “a new, preeminent community bank in Ohio, Indiana and Kentucky. . .with scale and strength in commercial and retail banking, wealth management and specialty finance.”
Finally, upon completion of the transaction, MSFG shareholders will own a meager 37% of the combined company as compared to the substantially larger 63% ownership stake that FFBC and its shareholders will hold.
Given these facts, WeissLaw is investigating whether MSFG’s shareholders will obtain their fair and proportionate share of the Company’s continued success and future growth prospects. If you own MSFG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/mainsource-financial-group-inc/