Acqusition of FirstMerit - Law Firm Seeks more Money for Shareholders
September 13, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of FirstMerit Corp. FirstMerit Corporation (FMER) and Citizens Republic Bancorp, Inc. (CRBC) announced today that they have entered into a definitive agreement under which FirstMerit will acquire Citizens in a stock-for-stock transaction. Under the terms of the agreement, Citizens' shareholders will receive a fixed 1.37 shares of FirstMerit common stock in exchange for each share of Citizens' common stock. Based on FirstMerit's average ten-day closing stock price ended September 12, 2012, the implied value of a Citizens' share would be $22.50.
The investigation concerns whether the Board of FMER obtained the highest price possible for shareholders by conducting a full and fair auction process while not obtaining personal benefits for themselves in selling the company. If you are a shareholder of FMER and would like additional information concerning this matter, please contact us toll free at 877-772-3975