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Egleston Law Firm Announces Investigation of the Acquisition of Whitney Holding Corporation

^{Published on 2010-12-30 15:10:32 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Egleston Law Firm announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Whitney Holding Corporation (NASDAQ: WTNY) (aWhitneya or the aCompanya) to Hancock Holding Company (aHancocka) (NASDAQ: HBHC) in a stock-for-stock transaction valued at approximately $1.5 billion.

Under the terms of the proposed deal, Whitney shareholders will receive 0.418 share of Hancock common stock per share of Whitney stock they own. Based on the previous closing prices of HBHC stock, the transaction values Whitney stock at $15.48 per share with a total transaction value of approximately $1.5 billion.

The investigation concerns whether the Whitney Board of Directors breached their fiduciary duties to Whitney stockholders by failing to adequately shop the Company before entering into this transaction and whether Hancock is underpaying for Whitney shares.

If you are a shareholder of Whitney and would like more information about our investigation, please contact Gregory M. Egleston, Esq. by telephone at (646) 227-1700 or by e-mail at [ greg.egleston@gmail.com ] or visit [ www.gme-law.com ].

ATTORNEY ADVERTISING. Prior results do not guarantee or predict a similar outcome with respect to any future matter.