Energy News / Shareholders Foundation, Inc.

NASDAQ:BHBK Investor Alert: Investigation of Takeover of Blue Hills Bancorp, Inc

Via: ReleaseWire

Updated 11:30 AM CDT, Tue, October 02,2018

An investigation on behalf of investors of Blue Hills Bancorp, Inc. (NASDAQ: BHBK) in connection with the proposed takeover was announced and Blue Hills Bancorp, Inc. (NASDAQ: BHBK stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 10/02/2018 -- An investigation was announced on behalf of investors, who currently hold shares of Blue Hills Bancorp, Inc. (NASDAQ: BHBK), concerning the takeover of Blue Hills Bancorp, Inc. by Independent Bank Corp.

Investors who purchased shares of Blue Hills Bancorp, Inc. (NASDAQ: BHBK) and currently hold any of those NASDAQ: BHBK shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain directors of Blue Hills Bancorp, Inc. breached their fiduciary duties owed to NASDAQ: BHBK investors in connection with the proposed acquisition.

On September 20, 2018, Independent Bank Corp. (NASDAQ Global Select Market: INDB), parent of Rockland Trust Company, and Blue Hills Bancorp, Inc. (NASDAQ Global Select Market: BHBK) ("Blue Hills Bancorp"), parent of Blue Hills Bank, have signed a merger agreement for Independent Bank Corp to acquire Blue Hills Bancorp and Rockland Trust to acquire Blue Hills Bancorp, Inc. (NASDAQ: BHBK). The merger agreement provides that each Blue Hills Bancorp stockholder will receive 0.2308 of a share of Independent common stock and $5.25 in cash for each share of Blue Hills Bancorp common stock. Based on a closing price of $89.35 per NASDAQ: INDB shares investors in Blue Hills Bancorp, Inc. (NASDAQ: BHBK) will receive a value of approximately $25.87 per share.

However, given that at least one analyst has set the high target price for NASDAQ: BHBK shares at $28.00 per share, the investigation concerns whether the offer is unfair to Blue Hills Bancorp, Inc. (NASDAQ: BHBK stockholders. More specifically, the investigation concerns whether the Blue Hills Bancorp, Inc. (NASDAQ: BHBK 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.

Blue Hills Bancorp, Inc. reported that its annual Total Revenue rose from $63.69 million in 2016 to $82.02 million in 2017 and that its Net Income grew from $8.65 million in 2016 to $16.48 million in 2017.

Shares of Blue Hills Bancorp, Inc. (NASDAQ: BHBK) closed on October 1, 2018, at $23.83 per share.

Those who are current investors in Blue Hills Bancorp, Inc. (NASDAQ: BHBK) shares have certain options and should contact the Shareholders Foundation.

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

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqbhbk-investor-alert-investigation-of-takeover-of-blue-hills-bancorp-inc-1057360.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com