The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Mercer Insurance Group, Inc. (“Mercer Insurance” or “MIGP”) (NASDAQ: MIGP) related to the proposed acquisition of Mercer Insurance by United Fire & Casualty Company (NASDAQ: UFCS).

The definitive acquisition agreement, which was announced after the close of the market on November 30, 2010, involves a transaction valued at approximately $191 million. Under the proposed take over transaction, Mercer Insurance shareholders will receive a cash payment of $28.25 for each share of Mercer Insurance/MIGP common stock they hold. Although the acquisition price reportedly represents an approximate 49.8% premium over Mercer Insurance’s closing price the day before the announcement, Mercer Insurance has performed well in 2010 compared to the prior year. Based on this and other factors, the proposed transaction may not adequately value Mercer Insurance/MIGP shares.

The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Mercer Insurance for approving this transaction and whether Mercer Insurance’s Board of Directors acted in the shareholders’ best interests and properly shopped the deal.

If you currently own shares of Mercer Insurance/MIGP and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please 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 toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm 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.

Mercer Insurance (NASDAQ:MIGP)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Mercer Insurance Charts.
Mercer Insurance (NASDAQ:MIGP)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Mercer Insurance Charts.