An investigation on behalf of investors in West Coast Bancorp (NASDAQ:WCBO) shares was announced concerning whether the offer by Columbia Banking System, Inc to merge with West Coast Bancorp for a valued of approximately $ 23.10 per NASDAQ:WCBO share and the takeover process are unfair to investors in NASDAQ:WCBO shares.

Investors who purchased shares of the West Coast Bancorp (NASDAQ:WCBO) prior to September 26, 2012, and currently hold any of those NASDAQ:WCBO shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of West Coast Bancorp breached their fiduciary duties owed to NASDAQ:WCBO investors in connection with the proposed acquisition.

On September 26, 2012, Columbia Banking System, Inc. (NASDAQ: COLB) and West Coast Bancorp (NASDAQ: WCBO) announced that the companies have agreed to combine their two leading Pacific Northwest community bank franchises in a transaction valued at approximately $506 million.

Under the terms of the merger agreement West Coast Bancorp shareholders can elect, subject to allocation procedures, to receive either Columbia common stock, cash, or a combination of both stock and cash for each share of West Coast stock.

Aggregate consideration offered in exchange for all of West Coast's capital securities consists of a fixed amount of cash totaling approximately $264.5 million and a fixed amount of Columbia common stock totaling approximately 12.8 million shares.

The value received by West Coast shareholders on a per share basis will fluctuate based on Columbia's stock price. Based on Columbia's closing stock price of $18.85 on September 25, West Coast shareholders would have received consideration valued at approximately $23.10 per share.

However, at least one analyst has set the high target price of NASDAQ:WCBO shares at $24.50 per share. Furthermore, West Coast Bancorp’s financial performance improved recently. For instance, West Coast Bancorp reported that its Net Loss of $91.21 million in 2009 turned into a Net Income of $33.78 million in 2011.

Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:WCBO stockholders.

Specifically, the investigation focuses on whether the West Coast Bancorp Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in West Coast Bancorp (NASDAQ:WCBO) and purchased their West Coast Bancorp shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com