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First Merchants Corporation (FRME)

(NASDAQ: FRME)

Summary

Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of First Merchants Corporation (FRME)

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of First Merchants Corporation (“First Merchants” or the “Company”) (NASDAQ: FRME) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to CFS Bancorp, Inc. (NASDAQ: CITZ) (“CFS”) in a deal valued at approximately $114.7 million.  Under the terms of the proposed transaction, First Merchants’ stockholders will receive 0.65 shares of CFS common stock for each share of First Merchants common stock they own, a total implied price of approximately $10.49 per share, while according to Yahoo! Finance, at least one financial analyst has set a price target of $18.50 for First Merchants.

The investigation focuses on whether First Merchants’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of First Merchants’ shareholders. 

If you own common stock in First Merchants and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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MergerInfo Request
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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