BALA CYNWYD, Pa., July 30, 2024 (GLOBE NEWSWIRE) — Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Enstar Group Limited (Nasdaq – ESGR)
Under the terms of the agreement, Enstar will be acquired by Sixth Street for $338.00 in cash per ordinary share of Enstar payable upon closing of the transaction, representing a total equity value of $5.1 billion. The investigation concerns whether Enstar Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Sixth Street is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/enstar-group-limited-nasdaq-esgr/
Premier Financial Corp. (Nasdaq – PFC)
Under the terms of the agreement, Premier Financial will be acquired by WesBanco, Inc. (“WesBanco”) (Nasdaq – WSBC). WesBanco will exchange shares of its common stock for all of the outstanding shares of Premier Financial common stock, in an all-stock transaction. Premier Financial shareholders will be entitled to receive 0.80 of a share of WesBanco common stock for each share of Premier Financial common stock they own upon the effective time of the merger, for aggregate merger consideration valued at approximately $959 million, or $26.66 per share, based on WesBanco’s closing stock price of $33.32 as of July 24, 2024. The investigation concerns whether Premier Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether WesBanco is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/premier-financial-corp-nasdaq-pfc/.
Heartland BancCorp (OTC – HLAN)
Under the terms of the agreement, Heartland will be acquired by German American Bancorp, Inc. (“German American”) (Nasdaq – GABC). Heartland shareholders, other than the Heartland retirement plan, will receive 3.90 shares of German American common stock for each share of Heartland common stock in an all-stock, tax-free exchange. The shares held by the Heartland retirement plan will be exchanged for an equivalent cash payment. The indicated per share value to Heartland shareholders is $155.37 and the aggregate transaction value is approximately $330.2 million. The investigation concerns whether Heartland Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether German American is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/heartland-banccorp-otc-hlan/.
The First Bancshares, Inc. (NYSE – FBMS)
Under the terms of the agreement, The First will be acquired by Renasant Corporation (“Renasant”) (NYSE – RNST). Shareholders of The First will receive 1.00 share of Renasant common stock for each share of The First common stock. Additionally, all options of The First will be cashed out at their in-the-money value at closing. Based on Renasant’s closing stock price of $37.09 per share as of July 26, 2024, the implied transaction value is approximately $37.09 per The First share, or $1.2 billion, in the aggregate. The investigation concerns whether The First Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Renasant is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/first-bancshares-inc-nyse-fbms/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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