-
If you purchased shares of Taylor Capital Group Inc (NASDAQ:TAYC) prior to July 15, 2013 , and currently hold any of those NASDAQ:TAYC shares, you have certain options and you should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
July 16, 2013 (Shareholders Foundation) - An investigation on behalf of investors in Taylor Capital Group Inc (NASDAQ:TAYC) shares was announced concerning whether the offer by MB Financial Inc. to merge with Taylor Capital Group Inc for a value of approximately $22.00 per NASDAQ:TAYC share and the takeover process are unfair to investors in Taylor Capital Group shares.
The investigation by a law firm concerns whether certain officers and directors of Taylor Capital Group Inc breached their fiduciary duties owed to NASDAQ:TAYC investors in connection with the proposed acquisition.
On July 15, 2013, MB Financial, Inc. (NASDAQ: MBFI) and Taylor Capital Group, Inc. (NASDAQ: TAYC) announced the signing of a merger agreement whereby MB Financial will acquire Taylor Capital. Under the terms of the transaction, Taylor Capital Group shareholders will receive 0.64318 shares of MB Financial Inc. and $4.08 in cash for each share of Taylor Capital Group Inc stock they own, representing a value of approximately $22.00 per NASDAQ:TAYC share.
However, the investigation by a law firm concerns whether the offer is too low for NASDAQ:TAYC stockholders. More specifically, the investigation focuses on whether the Taylor Capital Group 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 July 16, 2013, Taylor Capital Group Inc (NASDAQ:TAYC) shares closed at $21.81.
