An investigation was announced for investors, who currently hold NASDAQ:CFCB shares, over the buyout of Centrue Financial Corp. by Midland States Bancorp, Inc for $26.75 per share.
Investors who purchased shares of Centrue Financial Corp (NASDAQ:CFCB) and currently hold any of those NASDAQ:CFCB shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Centrue Financial directors breached their fiduciary duties owed to NASDAQ:CFCB investors in connection with the proposed acquisition.
On Janiuary 2017, Midland States Bancorp, Inc. and Centrue Financial Corp announced that they have entered into an agreement under which Midland will acquire Centrue Financial Corp (NASDAQ:CFCB) for estimated total consideration of $175.1 million, or $26.75 per share of Centrue common stock.
However, the investigation concerns whether the offer is unfair to NASDAQ:CFCB stockholders. More specifically, the investigation concerns whether the Centrue Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Centrue Financial Corp reported that its Net Loss of $4.51 million in 2014 turned into a Net Income of $42.60 million in 2015.
Shares of Centrue Financial Corp (NASDAQ:CFCB) closed on February 21, 2017 at $26.15 per share.
Those who are current investors in NASDAQ:CFCB shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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