SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Merger Of ESB Financial Corp. With WesBanco Inc. ...
05 Novembre 2014 - 12:21AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of ESB Financial Corp. (“ESB” or the
“Company”) (Nasdaq: ESBF) relating to the proposed buyout of the
Company by WesBanco Inc. (“WesBanco”).
On October 29, 2014, ESB and WesBanco announced the signing of a
definitive Agreement and Plan of Merger pursuant to which
WesBanco will exchange a combination of its common stock and cash
for ESB common stock. Under the terms of the transaction, ESB
shareholders will receive 0.502 shares of WesBanco and $1.76 in
cash for each share of ESB common stock they own. The proposed
transaction values ESB at approximately $17.65 per share and may
undervalue the Company given its strong franchise in Pittsburgh and
Western Pennsylvania. The transaction is expected to close in the
first or second quarter of 2015.
The firm’s investigation seeks to determine, among other things,
whether ESB’s Board of Directors failed to satisfy their duties to
the Company’s shareholders, including whether the board adequately
pursued alternatives to the acquisition and whether the board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of ESB and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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