Shareholder Alert: The Ademi Firm investigates whether CNB Bank Shares Inc. is obtaining a Fair Price for its Public Shareholders
Prnewswireยท2025-10-20 17:00
Core Points - The Ademi Firm is investigating CNBN for potential breaches of fiduciary duty and other legal violations related to its transaction with HBT Financial Inc [1][3] - CNBN shareholders will receive either 1.0434 shares of HBT common stock per CNBN share, $27.73 in cash per share, or a combination of both, with an implied purchase price of $25.92 per share [2] - Upon completion of the transaction, CNBN shareholders are expected to own approximately 15% of HBT's outstanding common stock [2] - The transaction agreement includes a significant penalty for CNBN if it accepts a competing bid, raising concerns about the board's fiduciary duties [3]