Brief: German American Bancorp And First Security Announce Definitive Merger Agreement

German American Bancorp

22/05/2018 22:35

May 22 (Reuters) - German American Bancorp Inc  GABC.O :
    * GERMAN AMERICAN BANCORP, INC. AND FIRST SECURITY, INC.
ANNOUNCE
DEFINITIVE MERGER AGREEMENT
    * GERMAN AMERICAN BANCORP - FIRST SECURITY COMMON
SHAREHOLDERS
WILL RECEIVE A CASH PAYMENT OF $12.00 PER FIRST SECURITY SHARE
    * GERMAN AMERICAN BANCORP - AFTER DEAL COMPLETION,
ANTICIPATED
THAT A BOARD MEMBER OF FIRST SECURITY WILL BE JOINING BOARD OF
GERMAN AMERICAN
    * GERMAN AMERICAN BANCORP - FIRST SECURITY SHAREHOLDERS TO
GET
FIXED EXCHANGE RATIO 0.7982 SHARES OF CO'S STOCK PER SHARE &
CASH PAYMENT OF $12.00/SHARE
    * GERMAN AMERICAN - MICHAEL BECKWITH, PRESIDENT & CEO OF
FIRST
SECURITY, WILL ASSUME NEWLY ESTABLISHED ROLE OF KENTUCKY
DIVISIONAL PRESIDENT
    * GERMAN AMERICAN BANCORP INC - TRANSACTION HAS A VALUE OF
$40.00
PER FIRST SECURITY COMMON SHARE
    * GERMAN AMERICAN BANCORP INC - TRANSACTION HAS AN AGGREGATE
INDICATED VALUE OF APPROXIMATELY $101.0 MILLION
    * GERMAN AMERICAN - EXPECTS TO ISSUE ABOUT 2.0 MILLION
SHARES AND
PAY ABOUT $31 MILLION CASH FOR ALL SHARES AND OPTIONS OF FIRST
SECURITY
    * GERMAN AMERICAN BANCORP - EXPECT DEAL TO BE ACCRETIVE TO
GERMAN
AMERICAN'S EPS DURING 12 MONTHS FOLLOWING COMPLETION

Source text for Eikon:  ID:nGNXcLdYD 
Further company coverage:  GABC.O 

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