NEW YORK, July 15, 2013 /PRNewswire/ -- Pomerantz
Grossman Hufford Dahlstrom & Gross LLP is investigating claims
on behalf of investors of Taylor Capital Group, Inc. ("Taylor
Capital" or the "Company") (NASDAQ: TAYC) (ISIN: US8768511060)
(CUSIP: 876851106) concerning the proposed acquisition of Taylor
Capital Group, Inc. by MB Financial, Inc. ("MB
Financial").
The investigation concerns whether the Taylor Capital directors
are breaching their fiduciary duties by failing to adequately shop
the Company and maximize shareholder value. Under the terms
of the agreement, Taylor Capital shareholders will be entitled to
receive a per share merger consideration currently valued at
approximately $22.00 per Taylor
Capital share, inclusive of stock option, warrant and restricted
stock cash-outs. Upon completion of the merger, each share of
Taylor Capital common stock and nonvoting preferred stock will be
converted into the right to receive (1) 0.64318 shares of MB
Financial common stock and (2) $4.08
in cash, representing an aggregate consideration mix of
approximately 81% MB Financial stock and 19% cash. However, the
offered price to EBITDA and Net Income multiples are below
comparable transactions' averages. Taylor Capital's Chief
Executive Officer and at least two Taylor Capital board members
will stay with the new company following the merger.
Taylor Capital shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of defrauded
investors. See www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz Grossman Hufford Dahlstrom
& Gross LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz Grossman Hufford
Dahlstrom & Gross LLP