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Tue, January 18, 2011

Kendall Law Group Investigates Sterling Bancshares, Inc. Merger for Shareholders


Published on 2011-01-18 08:30:21 - Market Wire
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DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Sterling Bancshares, Inc. (NASDAQ: SBIB) for shareholders in connection with the proposed acquisition by Comerica Inc. The national securities firma™s investigation seeks to determine whether Sterling Bancshares and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Sterling Bancshares shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On January 18, 2011, the companies announced the definitive merger agreement under which Sterling Bancshares would be acquired by Comerica, in a transaction valued at approximately $1 billion. Under the terms of the agreement, Sterling Bancshares stockholders will receive 0.2365 common shares of Comerica (NYSE: CMA) stock for each share of Sterling Bancshares/SBIB common stock held. The offer values Sterling shares at approximately $9.94 per share using Fridaya™s closing price, a premium of about 29 percent. The firma™s investigation seeks to determine whether the transaction provides proper value for Sterling Bancshares shareholders.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.

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