NEW YORK, Jan. 27, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of FirstMerit Corporation ("FirstMerit" or the "Company") (NASDAQ: FMER) concerning the proposed acquisition of the Company by Huntington Bancshares Incorporated ("HBI").
Under the terms of the offer, HBI would acquire FirstMerit in a transaction valued at approximately $3.4 billion. Pursuant to the deal, FirstMerit stockholders would receive 1.72 shares of HBI and $5 cash per FirstMerit share owned, a combined value of approximately $20.14. According to Yahoo Finance, at least one analyst has set a target price for FirstMerit stock of $22.86.
Our investigation concerns whether the FirstMerit board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own FirstMerit shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I Sachs-Michaels, Esq. Robert I. Harwood, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: email@example.com Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP