Halper Sadeh LLC, an investor rights law firm, announced an investigation into whether the sale of PB Bankshares, Inc. to Norwood Financial Corp is fair to PB Bankshares shareholders. The investigation focuses on the terms of the proposed transaction.
Under the merger agreement, PB Bankshares' shareholders can elect to receive either 0.7850 shares of Norwood common stock or $19.75 in cash for each common share. This election is subject to proration to ensure a balanced distribution of consideration.
The investigation by Halper Sadeh LLC indicates a potential concern regarding the adequacy of the consideration offered to PB Bankshares shareholders. Such legal inquiries can sometimes lead to delays or renegotiations of merger terms.
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