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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of MBT Financial Corporation (NASDAQGS: MBTF) to First Merchants Corporation (NASDAQGS: FRME). Under the terms of the transaction, MBT Financial shareholders will receive 0.275 shares of First Merchants common stock for each share of MBT Financial stock they own; based on the closing price of First Merchants’ common stock on October 9, 2018, this represents approximately $12.57 per share.
The MBT Financial merger investigation concerns whether the Board of MBT Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether First Merchants is underpaying for MBT Financial shares, thus unlawfully harming MBT Financial shareholders.
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