Kendall Law Group Investigates Wilmington Trust Corporation Acquisition for Shareholders
November 01 2010 - 9:50AM
Business Wire
Kendall Law Group, a national securities firm led by a former
federal judge, is investigating Wilmington Trust Corporation (NYSE:
WL) for shareholders in connection with the proposed acquisition by
M&T Bank Corporation. The firm is investigating whether
Wilmington Trust properly shopped the Company prior to entering
into the agreement. This possible breach of fiduciary duty may have
kept the Company from reaching a deal that would provide better
value of the Company. If you are a Wilmington Trust shareholder and
would like additional information about your rights, you are
encouraged to contact the Kendall Law Group at 877-744-3728 or by
email at skendall@kendalllawgroup.com.
On November 1, 2010, the companies announced the definitive
merger agreement under which Wilmington Trust would be acquired by
M&T in a transaction valued at approximately $351 million.
Under the terms of the agreement, Wilmington Trust stockholders
will receive 0.051372 shares of M&T common stock for each share
of Wilmington Trust/WL common stock held, about half Wilmington
Trust’s Oct. 29 market value. Based on historical stock prices, the
firm believes the transaction significantly undervalues the
company.
Kendall Law Group was founded by former federal judge Joe
Kendall, includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
Wilmington (NYSE:WL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wilmington (NYSE:WL)
Historical Stock Chart
From Jul 2023 to Jul 2024