Brief: Investar Holding Corporation Announces Acquisition Of Cheaha Financial Group Inc

Investar Holding

20/12/2019 14:11

Dec 20 (Reuters) - Investar Holding Corp  ISTR.O :
    * INVESTAR HOLDING CORPORATION ANNOUNCES ACQUISITION OF
CHEAHA
FINANCIAL GROUP, INC. IN OXFORD, ALABAMA AND PRIVATE PLACEMENT
OF COMMON STOCK
    * INVESTAR HOLDING CORP - CHEAHA SHAREHOLDERS WILL RECEIVE
$80.00
IN CASH CONSIDERATION FOR EACH OF THEIR SHARES OF CHEAHA COMMON
STOCK
    * INVESTAR HOLDING CORP - DEAL  VALUE OF APPROXIMATELY $41.1
MILLION
    * INVESTAR HOLDING - AGREEMENT HAS BEEN UNANIMOUSLY APPROVED
BY
BOTH BOARDS OF DIRECTORS OF CHEAHA AND INVESTAR
    * INVESTAR HOLDING - CHEAHA WILL BE PERMITTED TO PAY ITS
REGULAR,
ANNUAL DIVIDEND TO SHAREHOLDERS PRIOR TO CLOSING OF MERGER
    * INVESTAR HOLDING CORP - INVESTAR ANNOUNCED EXECUTION OF
STOCK
PURCHASE AGREEMENT WITH SELECTED INSTITUTIONAL, OTHER ACCREDITED
INVESTORS
    * INVESTAR HOLDING CORP - CHEAHA WILL TRANSITION TO INVESTAR
NAME

Source text for Eikon:  ID:nGNX4Bl6X1 
Further company coverage:  ISTR.O 

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