NEW YORK, July 28, 2017 /PRNewswire/ -- 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 stockinfo@weisslawllp.com.
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 stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/mainsource-financial-group-inc/
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SOURCE WeissLaw LLP
