Territorial Shareholders Have Nothing to Worry About: Blue Hill Advisors Assures No Risk in Board Engagement
Hope Cannot Walk Away if Board Allows Investors to Perform Due Diligence
Hope Can Only Walk Away if Board Changes Recommendation or Breaches Merger Agreement
Calls on Board to Exercise Risk-Free Option to Explore Potentially Superior Offer
Encourages Territorial Shareholders to Force Another Postponement by Voting AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024
Responds to Illogical Board Excuses for not Engaging with Investors
HONOLULU, Oct. 29, 2024 /PRNewswire/ — Blue Hill Advisors today issued the following open letter to shareholders of Territorial Bancorp Inc. (“Territorial” or the “Company”) (NASDAQ: TBNK).
Dear Fellow Territorial Shareholders, Territorial’s Board of Directors has flooded you with materials urging you to support the Company’s proposed sale to Hope Bancorp, Inc. (“Hope”) (NASDAQ: HOPE) and dismiss our proposal.
How This Will Affect You
If you are a shareholder of Territorial Bancorp Inc., this news could impact your decision-making process in relation to the proposed sale to Hope Bancorp, Inc. Considering the assurance from Blue Hill Advisors that there is no risk in board engagement, it is important for you to weigh the potential benefits and risks associated with either supporting the sale or exploring potentially superior offers. Your vote at the upcoming special meeting of stockholders on November 6, 2024 will play a crucial role in determining the future of the company.
How This Will Affect the World
The outcome of the Territorial Bancorp Inc.’s proposed sale to Hope Bancorp, Inc. could have broader implications for the financial industry. If the board engages with investors and explores potentially superior offers as encouraged by Blue Hill Advisors, it could set a precedent for addressing shareholder concerns and maximizing value for stakeholders in similar cases. This could lead to more transparency and accountability in corporate decision-making processes, ultimately benefiting investors and the market as a whole.
Conclusion
As Territorial shareholders navigate through the information presented by Blue Hill Advisors and the board of directors, it is crucial to consider all aspects of the proposed sale and make an informed decision at the upcoming special meeting. The assurance of no risk in board engagement provides a new perspective on the situation, urging shareholders to carefully evaluate their options before casting their votes. The outcome of this decision not only affects individual investors but also has the potential to influence corporate governance practices in the financial sector. Stay informed, stay engaged, and make your voice heard.
