Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Wilmington Trust Corp. in Connection with...
02 November 2010 - 11:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Wilmington Trust Corporation (“Wilmington Trust”) (NYSE:WL) related
to the proposed merger of Wilmington Trust with M&T Bank
Corporation (“M&T”). The stock-for-stock transaction is valued
at approximately $351 million.
Under the terms of the definitive merger agreement entered into
by the parties, Wilmington Trust shareholders will receive 0.051372
shares of M&T common stock in exchange for each share they own
of the Company’s common stock. Based on M&T’s closing stock
price on October 29, 2010, Wilmington Trust shareholders would
receive a value of $3.84 per Wilmington Trust share. The
transaction is expected to close by mid-year 2011. The
investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the transaction by
Wilmington Trust’s board of directors.
If you own shares of Wilmington Trust, if you have information
or would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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