Brief: Bar Harbor Bankshares to buy Lake Sunapee Bank Group

Bar Harbor Bankshares

05/05/2016 21:39

May 5 (Reuters) - Bar Harbor Bankshares  BHB.A : 
    * Deal for $143 million 
    * Bar harbor bankshares expands into New Hampshire and 
Vermont with Lake Sunapee Bank Group merger 
    * Co's shareholders will own approximately 59% of combined 
company's stock, while lake sunapee shareholders will own 
approximately 41% 
    * Existing lake sunapee bank branches will continue to 
operate under lake sunapee brand after merger is completed 
    * Deal for approximately $17.00 per share 
    * Each outstanding share of lake sunapee common stock will 
be exchanged for 0.4970 shares of bar harbor common stock 
    * Merger is expected to be accretive to both bar harbor's 
and lake sunapee's earnings per share in 2017 
 
Source text for Eikon:  ID:nBw8t6n2Ba  
Further company coverage:  BHB.A  
 
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