Faruqi & Faruqi, LLP Announces the Investigation of Metro Bancorp, Inc. (METR) Over the Proposed Sale of the Company to F.N.B. Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Metro Bancorp, Inc. (“Metro” or the “Company”) (NSADAQ:METR) for potential breaches of fiduciary duties in connection with the sale of the Company to F.N.B. Corporation for approximately $474 million in an all-stock transaction.
Under the terms of the merger agreement, which has been approved by the board of directors of each company, shareholders of Metro will be entitled to receive 2.373 shares of FNB common stock for each common share of Metro. This is approximately $31.98 per share using the opening stock price of FNB as of Monday, August 3, 2015
However, the offer represents a negligible premium compared to the opening price of $30.54 per share on August 7, 2015 and is below at least one analyst target price of $38.00 per share.
If you own common stock in Metro and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.