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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Northwest Bancorporation (OTC Pink: NBCT) to First Interstate BancSystem, Inc. (NASDAQGS: FIBK). Under the terms of the transaction, Northwest Bancorporation shareholders will receive 0.516 shares of First Interstate Class A common stock for each share of Northwest Bancorporation stock they own, representing a value of approximately $21.03 per share.
The investigation concerns whether the Board of Northwest Bancorporation breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether First Interstate is underpaying for Northwest Bancorporation shares, thus unlawfully harming Northwest Bancorporation shareholders.
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