stock prior to November 4, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of First Horizon National Corporation (“First Horizon” or the “Company”) (NYSE: FHN) with IBERIABANK Corporation (“IBERIABANK”) (NASDAQ: IBKC). Under the terms of the deal, IBERIABANK shareholders will receive 4.584 shares of First Horizon for each IBERIABANK share they own. First Horizon shareholders will own 56% and IBERIABANK shareholders will own 44% of the combined company. Additionally, IBERIABANK shareholders will receive a 43% increase in their dividend after consummation of the transaction, based upon each company’s current dividend per share.
The First Horizon merger investigation concerns whether the Board of First Horizon breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the merger with IBERIABANK undervalues First Horizon shares, thus unlawfully harming First Horizon shareholders.
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