Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Bridge with Dime Community Bancshares, Inc. (“Dime”) (NASDAQ: DCOM). Under the terms of the merger, Dime will merge with and into Bridge, with Bridge as the surviving corporation, and Dime’s subsidiary, Dime Community Bank, will merge with and into Bridge’s subsidiary, BNB Bank, with BNB Bank as the surviving institution. Following the closing of the transaction, Dime shareholders will receive 0.6480 shares of Bridge common stock for each share of Dime common stock they own. Upon completion of the transaction, Dime shareholders will own approximately 52% and Bridge shareholders will own approximately 48% of the combined company. .
The Bridge merger investigation concerns whether the Board of Bridge breached their fiduciary duties to stockholders by agreeing to enter into this transaction and whether the merger undervalues Bridge relative to Dime, thereby harming Bridge shareholders.
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