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.
Another 'bottom feeder' law firm that doesn't have a client yet. They will reap millions from this as will the other law firms that jump on it. Had this same thing with another company and the shares shot up and I sold. The final outcome was, that if I had held the shares till the end I would have not gained nearly as much as I did. Plus I invested the proceeds in KOG at $7. 55. KOG gained quite a bit and I sold it. Came out way ahead instead of waiting for some jerk law firm to 'obtain a better deal for me.'