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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Access National Corporation (NASDAQGM: ANCX) to Union Bankshares Corporation (NASDAQGS: UBSH). Under the terms of the transaction, Access National shareholders will receive 0.75 shares of Union common stock per share; based on Union’s closing price on October 4, 2018, this represents a value of approximately $29.19 per share.
The Access National merger investigation concerns whether the Board of Access National breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Union is underpaying for Access National shares, thus unlawfully harming Access National shareholders.
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