An investigation on behalf of investors of FCB Financial Holdings, Inc. (NYSE: FCB) in connection with the proposed takeover was announced and NYSE: FCB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/06/2018 -- An investigation was announced over the takeover of FCB Financial Holdings, Inc. by Synovus Financial Corp.
Investors who purchased shares of FCB Financial Holdings, Inc. (NYSE: FCB) and currently hold any of those NYSE: FCB 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 officers and directors of FCB Financial Holdings, Inc. breached their fiduciary duties owed to NYSE: FCB investors in connection with the proposed acquisition.
Weston, FL based FCB Financial Holdings, Inc. operates as the bank holding company for Florida Community Bank, N.A. that provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida.
On July 24, 2018, Synovus Financial Corp. (NYSE: SNV) and FCB Financial Holdings, Inc. (NYSE: FCB) jointly announced their entry into a merger agreement under which Synovus will acquire FCB Financial Holdings, Inc., owner of Florida Community Bank (FCB), Florida's largest community bank. Under the terms of the merger agreement, FCB shareholders will receive a fixed ratio of 1.055 shares of Synovus common stock for each common share of FCB in an all-stock transaction. Based on Synovus' closing share price on July 23, 2018, the transaction is valued at $58.15 per FCB share or $2.9 billion in aggregate.
However, given that at least one analyst has set the high target price for NYSE: FCB shares at $63.00 per share and given that NYSE: FCB shares reached as high as $62.95 per share on June 7, 2018 in the open market prior to the announcement , the investigation concerns whether the offer is unfair to NYSE: FCB stockholders. More specifically, the investigation concerns whether the FCB Financial Holdings 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.
FCB Financial Holdings, Inc. reported that its annual Total Revenue rose from $289.77 million in 2016 to $321.05 million in 2017 and that its Net Income increased from $99.91 million in 2016 to $125.19 million in 2017.
On August 3, 2018, NYSE: FCB shares closed at $51.45 per share.
Those who are current investors in FCB Financial Holdings, Inc. (NYSE: FCB) 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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