Affinity Bancshares jumps on buyout deal from Atlanta Postal
31/05/2024 14:07
** Shares of community lender Affinity Bancshares AFBI.O
jump 22.4% to $20.76 premarket
** Atlanta Postal Credit Union (APCU) has agreed to buy AFBI
in all-cash deal, companies said late Thursday
** APCU agreed to pay about $22.50/shr to AFBI shareholders
** At $22.50/shr, deal represents premium of 32.6% to AFBI's
last close
** Deal will allow APCU to expand its reach throughout
Atlanta and surrounding communities
** Transaction expected to close in Q4 2024, or Q1 2025
** As of last close, AFBI shares were up 6.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))