Investigation for Investors in shares of First Midwest Bancorp, Inc. (NASDAQ: FMBI) over Takeover announced

An investigation was announced concerning whether the takeover of First Midwest Bancorp, Inc. is unfair to NASDAQ: FMBI stockholders.

Investors who purchased shares of First Midwest Bancorp, Inc. (NASDAQ: FMBI) and currently hold any of those NASDAQ: FMBI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of First Midwest Bancorp, Inc. breached their fiduciary duties owed to NASDAQ: FMBI investors in connection with the proposed acquisition.

Chicago, IL based First Midwest Bancorp, Inc. operates as the bank holding company for First Midwest Bank that provides various banking products and services. On June 1, 2021, Old National Bancorp (NASDAQ: ONB) and First Midwest Bancorp, Inc. (NASDAQ: FMBI), jointly announced they have entered into a definitive merger agreement to combine in an all-stock merger of equals transaction with a total market value of $6.5 billion to create a premier Midwestern bank with $45 billion in combined assets.
Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, First Midwest Bancorp, Inc. (NASDAQ: FMBI) stockholders will receive 1.1336 shares of Old National common stock for each share of First Midwest Bancorp, Inc. (NASDAQ: FMBI) common stock they own. Based on a closing price of $19.05 per NASDAQ: ONB shares on May 28, 2021, investors in First Midwest Bancorp, Inc. (NASDAQ: FMBI) will receive a value of approximately $21.60 per share.

However, given that at least one analyst has set the high target price for NASDAQ: FMBI shares at $25.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: FMBI stockholders. More specifically, the investigation concerns whether the First Midwest Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of First Midwest Bancorp, Inc. (NASDAQ: FMBI) closed on June 10, 2021, at $20.71 per share.

Those who are current investors in First Midwest Bancorp, Inc. (NASDAQ: FMBI) shares have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.