Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of the Colonial Properties Trust Proposed Acquisition by Mid-America Apartment Communities Inc.

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Colonial Properties Trust (NYSE:CLP) breached their fiduciary duties in connection with the proposed acquisition by Mid-America Apartment Communities Inc. (NYSE: MAA).

On June 3, 2013, Mid-America announced that it had entered into a definitive merger agreement to acquire Colonial Properties. Colonial Properties shareholders will receive 0.36 of a Mid-America share for each share of Colonial Properties owned. Based upon Friday’s closing price this represents $24.47 per share.

The investigation will determine whether the board of directors breached their fiduciary duties to stockholders by failing to satisfactorily shop the company before entering into this agreement. Jim Baker, lead analyst for Johnson & Weaver, stated that, "Mid-America’s offer appears to be inadequate and not in the best interest of Colonial Properties shareholders." Baker noted that this real estate investment trust (REIT) has been steadily increasing dividends to shareholders as a result of its superior performance. Additionally, many analysts have a price target greater than the buyout price.

If you are a Colonial Properties shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063.

Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.