August 18, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Symetra Financial Corporation (NYSE:SYA), was announced concerning whether the takeover of Symetra Financial by Sumitomo Life Insurance Company for $32.50 per share is unfair to NYSE:SYA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Symetra Financial Corporation breached their fiduciary duties owed to NYSE:SYA investors in connection with the proposed acquisition.

On August 11, 2015, Symetra Financial Corporation (NYSE:SYA) announced that it has entered into a merger agreement with Sumitomo Life Insurance Company pursuant to which Sumitomo Life will acquire all of the outstanding shares of Symetra Financial Corporation (NYSE:SYA). Under the terms of the proposed transaction shareholders of Symetra Financial Corporation will receive a total combined transaction consideration of $32.50 per share.

However, given that Symetra Financials largest shareholders, White Mountains and Berkshire Hathaway, representing approximately 18% and 17% ownership of common shares, respectively, have already agreed to vote in favor of the transaction, the investigation concerns whether the offer is unfair to NYSE:SYA stockholders. More specifically, the investigation concerns whether the Symetra Financial 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.

Symetra Financial Corporation reported that its annual Total Revenue rose from over $2.01 billion in 2011 to over $2.19 billion in 2014 and that its respective Net Income increased from $195.80 million to $254.40 million. Shares of Symetra Financial Corporation (NYSE:SYA) grew from $8.13 per share in October 2011 to as high as $25.87 per share in April 2015.