An investigation on behalf of investors of MidSouth Bancorp, Inc. (NYSE: MSL) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 05/07/2019 -- An investigation on behalf of investors, who currently hold shares of MidSouth Bancorp, Inc. (NYSE: MSL), was announced concerning whether the takeover of MidSouth Bancorp, Inc. is unfair to NYSE: MSL stockholders.
Investors who purchased shares of MidSouth Bancorp, Inc. (NYSE: MSL) and currently hold any of those NYSE: MSL shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of MidSouth Bancorp, Inc. breached their fiduciary duties owed to NYSE: MSL investors in connection with the proposed acquisition.
Lafayette, LA based MidSouth Bancorp, Inc., a bank holding company, through its subsidiary MidSouth Bank, N.A., provides various community banking products and services to commercial and retail customers in the United States.
On April 30, 2019, Hancock Whitney Corporation (NASDAQ: HWC), parent company of Hancock Whitney Bank, and MidSouth Bancorp, Inc. (NYSE: MSL), parent company of MidSouth Bank, N.A., announced that they have entered. Under the terms of the agreement, each share of MidSouth Bancorp, Inc. common stock will convert to the right to receive 0.2952 shares of Hancock Whitney Corporation common stock. Per the merger agreement, the conversion ratio reflects a per share value of $12.75 per MidSouth Bancorp, Inc common share.
However, given that at least one analyst has set the high target price at $14.50 per share and given that NYSE: MSL shares traded in October 2018 as high as $16.15 per share, the investigation concerns whether the offer is unfair to NYSE: MSL stockholders. More specifically, the investigation concerns whether the MidSouth 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.
MidSouth Bancorp, Inc. reported that its annual Total Revenue rose from $65.43 million in 2017 to $70.76 million in 2018.
Those who are current investors in MidSouth Bancorp, Inc. (NYSE: MSL) shares have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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