CNL Cleco Corp.

NEW YORK, Oct. 24, 2014 /PRNewswire/ -- Securities lawyers at Dunnam & Dunnam are investigating the board of Cleco Corp. (NYSE: CNL) in connection with a buyout for only $55.37 per share. Concerned CNL investors are encouraged to contact attorney Hamilton Lindley by clicking here.

The investigation focuses upon the shareholder value of the transaction. Under the terms of the proposed agreement, the investor group will acquire all outstanding shares of Cleco for $55.37 per share in an all cash transaction valued at $4.7 billion, including approximately $1.3 billion of assumed debt. The offer price is below the stock's 52-week high of $58.95 and one analyst price target of $58.00. The firm's potential shareholder lawsuit will seek to obtain the highest price reasonably available and that all important information about the deal is disclosed.

Dunnam & Dunnam has significant experience representing shareholders in securities lawsuits nationwide. CNL stockholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@dunnamlaw.com with questions, toll free at (844) 702-2990 or visit http://www.dunnamlaw.com/CNL.

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SOURCE Dunnam & Dunnam