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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of FCB Financial, Inc. (NYSE: FCB) to Synovus Financial Corp. (NYSE: SNV). Under the terms of the transaction, FCB Financial shareholders will receive 1.055 shares of Synovus common stock for each share of FCB Financial stock they own; based on the closing price of Synovus on July 23, 2018, this represents a value of approximately $58.15 per share.
The FCB Financial merger investigation concerns whether the Board of FCB Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Synovus Financial Corp. is underpaying for FCB Financial shares, thus unlawfully harming FCB Financial shareholders.
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