PR Newswire
MILWAUKEE, April 29, 2024
MILWAUKEE, April 29, 2024 /PRNewswire/ -- Ademi LLP is investigating Heartland Financial (NASDAQ: HTLF) for possible breaches of fiduciary duty and other violations of law in its transaction with UMB Financial.
Click here to learn how to join the https://www.ademilaw.com/case/heartland-financial-usa-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Heartland Financial stockholders will receive only 0.55 shares of UMB common stock for each share of HTLF common stock. This per share consideration is valued at $45.74 per share based on UMB's closing price of $83.17 on April 26, 2024. Following completion of the transaction, former HTLF stockholders are expected to collectively represent approximately 31% of the combined company. At the closing of the transaction, five members of the HTLF Board of Directors will join the UMB Board, which will be expanded to 16 members. The transaction agreement unreasonably limits competing transactions for Heartland Financial by imposing a significant penalty if Heartland Financial accepts a competing bid. Heartland Financial insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Heartland Financial's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Heartland Financial common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/heartland-financial-usa-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
