NEW ORLEANS, Jan. 22, 2015 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of City National Corporation ("City National" or the "Company") (NYSE: CYN) to Royal Bank of Canada ("RBC") (NYSE: RY). Under the terms of the proposed transaction, shareholders of City National will receive only, on average, approximately, $47.25 in cash and 0.7489 shares of RBC common stock, subject to elections, adjustments, and limitations, for each share of City National common stock that they own. Based on the closing price on the New York Stock Exchange of RBC's common shares on January 21, 2015, the total transaction value is approximately $93.80 of value per share of City National common stock. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) or associate Michael J. Palestina ([email protected]) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC