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Board of Beverly National Corp. Investigated by Levi & Korsinsky LLP
1 pages
Publié par
dangerkamal2
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Levi & Korsinsky (?L&K?) is investigating the Board of Directors of Beverly
National Corporation
New York, NY, June 19, 2009 -- Levi & Korsinsky (?L&K?) is investigating the Board
of Directors of Beverly National Corp.
(?Beverly? or the...
[Plus]
Levi & Korsinsky (?L&K?) is investigating the Board of Directors of Beverly
National Corporation
New York, NY, June 19, 2009 -- Levi & Korsinsky (?L&K?) is investigating the Board
of Directors of Beverly National Corp.
(?Beverly? or the ?Company?) (AMEX: BNV) for
possible breaches of fiduciary duty and other violations of state law in connection
with their attempt to sell the Company to Danvers Bancorp, Inc.
(NASDAQ: DNBK) (?
Danvers?).
Under the terms of the agreement, Beverly stockholders will receive 1.
66
shares of Danvers common stock in exchange for each common share of Beverly.
Based
on the closing price of Danvers common stock on June 16, 2009, the transaction is
valued at approximately $23.
04 per share or $61.
95 million in the aggregate.
After the proposed merger, Donat A.
Fournier, currently President and CEO of
Beverly, will become an Executive Vice President and a member of the senior
executive management team of Danvers.
Also, the Board of Directors of Danvers wil
[Moins]
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york
