SAN DIEGO, May 21, 2018 /PRNewswire/ -- 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 (jimb@johnsonfistel.com) 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.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
View original
content:http://www.prnewswire.com/news-releases/mb-financial-mbfi-alert-johnson-fistel-investigates-proposed-sale-of-mb-financial-inc-is-the-deal-in-the-best-interest-of-shareholders-300651742.html
SOURCE Johnson Fistel, LLP
