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The Securities Attorneys at The Briscoe Law Firm and Powers Taylor LLP Announce Investigation of the Acquisition of BancTrust F


Published on 2012-05-29 13:35:41 - Market Wire
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DALLAS--([ ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of [ BancTrust Financial Group, Inc. ] (aBancTrusta or aBTFGa) (NASDAQ: BTFG) to Trustmark Corporation for shareholders. Under the proposed acquisition agreement, BancTrust shareholders will receive only 0.125 shares of Trustmark common stock for each share of BancTrust common stock owned, which is valued at approximately $3.08 per share, which is well below at least one analystas estimated target price of $6.00 per share.

"Because of the lack of a significant premium to the shareholders, and other factors, we believe that the transaction may undervalue BancTrust stock. Our lawsuit will seek to obtain the highest share price for all shareholders."

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive merger agreement is valued at approximately $55.4 million.

The investigation centers on whether BancTrust shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues BancTrust stock, and whether BancTrustas board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Although the acquisition price represents a premium over the closing price of BancTrust shares the day prior to the buyout announcement, at least one analyst with Yahoo! Finance has estimated that the true inherent value of the stock is as high as $6.00 per share, well above the proposed price. According to shareholder rights attorney Willie Briscoe, aBecause of the lack of a significant premium to the shareholders, and other factors, we believe that the transaction may undervalue BancTrust stock. Our lawsuit will seek to obtain the highest share price for all shareholders.a

[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

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