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ChoiceOne Financial、Fentura Financial达成全股票合并协议
2024-07-25 20:42
- ChoiceOne Financial Services (NASDAQ:COFS) and Fentura Financial (OTCQX:FETM) has announced the signing of a definitive merger agreement pursuant to which ChoiceOne and Fentura will merge in an all-stock transaction.
- Under the terms, each share of Fentura common stock outstanding immediately prior to completion of the merger will be converted into the right to receive 1.35 shares of ChoiceOne common stock.
- The proposed transaction is valued at $40.18/share of Fentura common stock, or ~$180.4M in the aggregate, based on the closing price of ChoiceOne’s common stock of $29.76 on July 24, 2024.
- Once completed, the combination will create the third largest publicly traded bank in Michigan with ~$4.3B in consolidated total assets and 56 offices in Western, Central and Southeastern Michigan.
- The proposed transaction is expected to close in the first quarter of 2025.
More on ChoiceOne Financial Services
- Seeking Alpha’s Quant Rating on ChoiceOne Financial Services
- Dividend scorecard for ChoiceOne Financial Services
- Financial information for ChoiceOne Financial Services
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