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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of MB Financial, Inc. (NASDAQ: MBFI) to Fifth Third Bancorp. Under the terms of the transaction, MB Financial shareholders will receive 1.45 shares of Fifth Third stock and $5.54 in cash for each share of MB Financial stock they own. Based on the closing price of Fifth Third on May 18, 2018, this represents a value of approximately $54.20 per share.
The investigation concerns whether the Board of MB Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Fifth Third is underpaying for MB Financial shares, thus unlawfully harming MB Financial shareholders.
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