Robbins Arroyo LLP: Acquisition of Your Community Bankshares, Inc. (YCB) by WesBanco, Inc. (WSBC) May Not Be in Shareholders’ Best Interests
Robbins Arroyo LLP is investigating the proposed acquisition of Your Community Bankshares, Inc. (NASDAQ: YCB) by WesBanco, Inc. (NASDAQ: WSBC). On May 3, 2016, the two companies announced the signing of a definitive merger agreement pursuant to which WesBanco will acquire Your Community. Under the terms of the agreement, Your Community shareholders will receive 0.964 shares of WesBanco and $7.70 per share in cash for each share of Your Community they own, the value of which is equivalent to $39.05 per share of Your Community.
Is the Proposed Acquisition Best for Your Community and Its Shareholders?
Robbins Arroyo LLP’s investigation focuses on whether the board of directors at Your Community is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.
The $39.05 merger consideration represents a premium of only 15.9% based on Your Community’s closing price on May 2, 2016. This premium is significantly below the average one-day premium of nearly 51.5% for comparable transactions within the past year.
In light of these facts, Robbins Arroyo LLP is examining Your Community’s board of directors’ decision to sell the company now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.
Your Community shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information.
Your Community shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.
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