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FCB Financial (FCB) Alert: Johnson Fistel Investigates Proposed Sale of FCB Financial Holdings, Inc.; Is $58.15 a Fair Price?

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FCB Financial (FCB) Alert: Johnson Fistel Investigates Proposed Sale of FCB Financial Holdings, Inc.; Is $58.15 a Fair Price?

PR Newswire

SAN DIEGO, July 24, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of FCB Financial Holdings, Inc. ("FCB Financial") (NYSE:FCB) breached their fiduciary duties in connection with the proposed sale of the Company to Synovus Financial Corp ("Synovus") (NYSE:SNV). FCB Financial provides various financial products and services to individuals, small and medium-sized businesses, large businesses, and other local organizations and entities in south and central Florida.

On July 24, 2018, FCB Financial announced that it had signed a definitive merger agreement with Synovus. Under the terms of the merger agreement, FCB Financial shareholders will receive a fixed ratio of 1.055 shares of Synovus common stock for each common share of FCB Financial in an all-stock transaction. Based on Synovus' closing share price on July 23, 2018, the transaction is valued at $58.15 per FCB Financial share. However, shareholders will be subject to the future price fluctuation of Synovus' stock price.

The investigation concerns whether the FCB Financial board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for FCB Financial shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given Wall Street analysts' projections for FCB Financial's future earnings and revenue growth. Additionally, one Wall Street analyst has a $67.00 price target on the stock.

If you are a shareholder of FCB Financial  and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number. Additionally, you can [click here to join this action].There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP

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