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CADENCE MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF CADENCE BANCORPORATION IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – CADE
April 12, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Cadence Bancorporation (NYSE: CADE) to BancorpSouth Bank is fair to Cadence shareholders. Under the terms of the merger agreement, Cadence shareholders will receive 0.70 shares of BancorpSouth for each share of Cadence they own. The agreement also allows for a one-time special cash dividend to Cadence shareholders of $1.25 per share in conjunction with the closing of the merger. BancorpSouth shareholders will own approximately 55% and Cadence shareholders will own approximately 45% of the combined company.
The investigation concerns whether Cadence and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Cadence shareholders; (2) determine whether BancorpSouth is underpaying for Cadence; and (3) disclose all material information necessary for Cadence shareholders to adequately assess and value the merger consideration. On behalf of Cadence shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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