Brief: Equity Bancshares to merge with Community First Bancshares
14/07/2016 21:54
July 14 (Reuters) - Equity Bancshares Inc EQBK.O
* Equity bancshares, inc. Announces merger agreement with
community first bancshares, inc.
* Equity bancshares, inc. Announces merger agreement with
community first bancshares, inc.
* Equity will acquire all outstanding common shares of cfbi
pursuant to definitive merger agreement
* Equity expects merger to be approximately 26% accretive to
diluted earnings per share in 2017
* At effective time of merger shareholders of cfbi to have
right to get approximately $185.74 per share
* Equity expects merger to be 25% accretive to eps in 2018
* Each outstanding share of cfbi stock to represent right to
get fixed exchange ratio of 7.261 shares of equity class a
stock, $27.30 in cash
* Equity will issue a total of 2.7 million shares worth
approximately $58.7 million
* To pay an aggregate of $10.1 million in cash to cfbi
shareholders
* Expects merger to be about 9.0% dilutive to tangible book
value per share at deal closing
* Aggregate transaction value of $68.8 million
Source text for Eikon: ID:nGNXMXUJPa
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