Business & Finance
Mon, January 31, 2011Sun, January 30, 2011Sat, January 29, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011Tue, January 25, 2011Mon, January 24, 2011Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Danvers Bancorp, Inc.
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Published in Business and Finance on Monday, January 24th 2011 at 9:15 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Danvers Bancorp, Inc. (NASDAQ: [ DNBK ]) (referred to as "Danvers" or the aCompanya) by People's United Financial, Inc. (aPeople's Uniteda) in a 55% stock and 45% cash transaction valued at approximately $493 million.
Under the terms of the definitive agreement, which has been approved by both companies' boards of directors, Danvers shareholders may elect to receive either $23.00 in cash, or 1.624 shares of People's United stock for each Danvers share, subject to customary pro ration provisions, whereby 55% of Danvers shares will be exchanged for stock and 45% for cash. The transaction is valued at $23.00 per Danvers share, based on the average closing price of People's United for the 10-day period ended January 19, 2011.
Bull & Lifshitz, LLP's investigation is focused on whether the proposed deal provides adequate value to the Companya™s shareholders. If you are a holder of Danvers stock and want to discuss your legal rights, you may e-mail or call Bull & Lifshitz, LLP who will, without obligation or cost to you, attempt to answer your questions.
If you are a shareholder of Danvers and would like more information about our investigation, please contact Joshua M. Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an e-mail including your contact information to: [ counsel@nyclasslaw.com ]. All e-mail correspondence should make reference to Danvers.
Bull & Lifshitz, LLP is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit our website at [ www.nyclasslaw.com ].
ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP. The law firm responsible for this advertisement is Bull & Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212) 213-6222. Prior results do not guarantee or predict a similar outcome with respect to any future matter.