Seidman provides information on takeover proposal in Yardville investigation

By Lisa Kerner

Charlotte, N.C, March 13 - Lawrence B. Seidman provided information to Yardville National Bancorp's special counsel regarding information received by another one of the company's shareholders.

In November, Seidman received an unsolicited call in which a Yardville National Bancorp shareholder told Seidman that he had received information from one or more of the company's directors that the company had received, and rejected, a purchase offer of $41.00 per share and that the company planned to grow and not sell, according to a schedule 13D filing with the Securities and Exchange Commission.

Seidman owns 993,435 shares of Yardville National Bancorp common stock, or 8.75% of the outstanding common stock. He has not purchased or sold securities of the company since receiving the call, according to the filing.

Recently, Seidman and a group of shareholders, including Seidman & Associates LLC, requested information from Yardville National Bancorp regarding payment of legal fees and relatives employed by the company.

Yardville National Bancorp, based in Hamilton, N.J., operates as the bank holding company for The Yardville National Bank.

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