Blue Hill Advisors Reiterates $12.50 Per Share Cash Offer For Territorial Bancorp And Refutes Territorial's Claims About Hope Merger; Urges Shareholders To Oppose Merger
Portfolio Pulse from Benzinga Newsdesk
Blue Hill Advisors has reiterated its $12.50 per share cash offer for Territorial Bancorp, urging shareholders to oppose the proposed merger with Hope. Blue Hill claims the merger represents the second lowest valuation for a bank merger since 1983 and has released an updated presentation as the Territorial board continues to reject their superior proposal.
October 09, 2024 | 2:38 pm
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Blue Hill Advisors is pushing for Territorial Bancorp shareholders to reject the merger with Hope, offering a $12.50 per share cash alternative. They argue the merger is undervalued, being the second lowest since 1983.
The reiteration of a higher cash offer by Blue Hill Advisors suggests potential for a better deal for shareholders, which could positively impact TBNK's stock price in the short term as investors may anticipate a more favorable outcome.
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