On May 18, 2021, Altabancorp announced that it had signed an agreement to be acquired by Glacier for approximately $933.5 million. Pursuant to the merger agreement, Altabancorp stockholders will receive 0.7971 shares of Glacier common stock for each share of Altabancorp common stock owned. The deal is scheduled to close in the fourth quarter of 2021.
Bragar Eagel & Squire is concerned that Altabancorp’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Altabancorp’s stockholders.
If you own shares of Altabancorp and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email or telephone. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. Attorney advertising. Prior results do not guarantee similar outcomes.