January 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Anchor BanCorp Wisconsin Inc (DE) (NASDAQ:ABCW), was announced concerning whether the takeover of Anchor BanCorp Wisconsin Inc by Old National Bancorp for $48.50 per shares is unfair to NASDAQ:ABCW stockholders.

The investigation by a law firm concerns whether certain officers and directors of Anchor BanCorp Wisconsin Inc breached their fiduciary duties owed to NASDAQ:ABCW investors in connection with the proposed acquisition.

On January 12, 2016 Old National Bancorp and Anchor BanCorp Wisconsin Inc. (NASDAQ:ABCW) jointly announced the execution of an agreement under which Old National will acquire Anchor through a stock and cash merger. Under the terms of the agreement, Anchor BanCorp Wisconsin Inc (DE) (NASDAQ:ABCW) shareholders may elect to receive either 3.5505 shares of Old National common stock or $48.50 in cash for each share of Anchor BanCorp Wisconsin Inc (DE) (NASDAQ:ABCW) they hold, subject to no more than 40% of the outstanding shares of Anchor may receive cash.
However, the investigation concerns whether the offer is unfair to NASDAQ:ABCW stockholders. More specifically, the investigation concerns whether the Anchor BanCorp Wisconsin Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

On January 19, 2016, NASDAQ:ABCW shares closed at $42.32 per share.