An investigation on behalf of investors of Jacksonville Bancorp Inc (NASDAQ:JXSB) in connection with the proposed takeover was announced and NASDAQ:JXSB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/29/2018 -- An investigation was announced for investors, who currently hold shares of Jacksonville Bancorp Inc, concerning the takeover of Jacksonville Bancorp Inc by CNB Bank Shares, Inc.
Investors who purchased shares of Jacksonville Bancorp Inc (NASDAQ:JXSB) and currently hold any of those NASDAQ:JXSB shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Jacksonville Bancorp Inc breached their fiduciary duties owed to NASDAQ:JXSB investors in connection with the proposed acquisition.
On January 18, 2018, CNB Bank Shares, Inc. and Jacksonville Bancorp, Inc. (NASDAQ: JXSB) announced that they have entered into a merger agreement whereby Jacksonville Bancorp will merge with and into CNB Shares. Under the terms of the merger agreement, shareholders of Jacksonville Bancorp will receive $33.70 in cash for each share of Jacksonville Bancorp common stock. The transaction has an aggregate deal value of approximately $61.6 million.
However, the investigation concerns whether the offer is unfair to NASDAQ:JXSB stockholders. More specifically, the investigation concerns whether the Jacksonville Bancorp 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.
Shares of Jacksonville Bancorp Inc (NASDAQ:JXSB) closed on January 26, 2018 at $33.29 per share.
Those who are current investors in Jacksonville Bancorp Inc (NASDAQ:JXSB) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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