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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Guaranty Bancor (NASDAQGS: GBNK) to Independent Bank Group, Inc. (NASDAQGS: IBTX). Under the terms of the transaction, Guaranty Bancor shareholders will receive 0.45 shares of Independent Bank Group for each share of Guaranty Bancor stock they own. Based on the closing price of Independent Bank Group on May 21, 2018, this represents a value of approximately $35.37 per Guaranty Bancor share.
The investigation concerns whether the Board of Guaranty Bancor breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Independent Bank Group, Inc. is underpaying for Guaranty Bancor shares, thus unlawfully harming Guaranty Bancor shareholders.
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