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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Danvers Bancorp, Inc., in Connection with t

  //business-finance.news-articles.net/content/201 .. of-danvers-bancorp-inc-in-connection-with-t.html
  Published in Business and Finance on Friday, January 21st 2011 at 16:35 GMT by Market Wire

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Danvers Bancorp, Inc. (aDanvers Bancorpa or the aCompanya) (NASDAQ:DNBK) related to the Companya™s agreement to be acquired by Peoplea™s United Financial, Inc., the holding company for Peoplea™s United Bank (aPeoplea™s Uniteda). Danvers Bancorp is the holding company for Danversbank. The proposed transaction a" 55% stock and 45% cash a" is valued at approximately $493 million.

Under the terms of the definitive agreement entered into by the parties, Danvers Bancorp shareholders may elect to receive either $23.00 in cash or 1.624 shares of People's United stock for each Danvers Bancorp share they own. The proposed transaction values Danvers Bancorp shares at $23.00, based on the average closing price of Peoplea™s United for the 10-day period ended January 19, 2011. The transaction is expected to close late in the second quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Danvers Bancorpa™s board of directors.

If you are a shareholder of Danvers Bancorp, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].