Astoria Shareholders Upset Over Merger Bid - (via NewsPoints Desk)
November 24, 2015
Tags: NewsPoints Astoria NYCB United States Corporate Affairs Mergers &
Astoria Financial shareholders are joining
to block the $1.6 billion purchase of the company by New York Community Bancorp.
The shareholders accuse Astoria’s board of breach of fiduciary duties, arguing
that the purchase price is insufficient in light of the company's growth
prospects and that deal-protection clauses in the agreement preclude other
companies from submitting successful competing offers.
Astoria did not immediately respond to requests for a comment.
To contact the law firm handling the matter on behalf of shareholders of
Astoria for more information call toll free 800.511.7037