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Camco Financial Corp. Message Board

  • kovted kovted Oct 10, 2013 8:49 AM Flag

    BUYOUT OF CAMCO - LAW FIRM SEEKS HIGHER PRICE

    October 8, 2013
    New York, New York

    Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Camco Financial Corp. on behalf of its shareholders in connection with the buyout of the company by Huntington Bancorp in a stock and cash deal.

    Under the terms of the agreement, shareholders of Camco Financial may elect to receive 0.7264 shares of Huntington common stock, or $6.00 in cash, for each share of Camco Financial common stock, subject to proration provisions specified in the merger agreement that provide for a targeted aggregate split of total consideration of 80% common stock and 20% cash. Based upon the Wednesday, October 9, 2013, closing price of $8.12 per share of Huntington common stock, the transaction is valued at approximately $97 million, including outstanding options and warrants.

    The investigation concerns whether the board of directors of Camco breached their fiduciary duties to shareholders by not engaging in a full and fair auction for the company so that shareholders could receive the maximum value for their shares while not at the same time seeking personal benefits for their own self interests in selling the company at this price. If you are a shareholder of Camco and would like additional information at no cost or expense please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy. Tripp Levy PLLC is a national law firm with extensive experience in mergers and takeover and has recovered millions of dollars for shareholders around the globe.

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