Brief: Lakeland Bancorp To Buy Highlands Bancorp For About $56.7 Million
23/08/2018 22:49
Aug 23 (Reuters) - Lakeland Bancorp Inc LBAI.O :
* LAKELAND BANCORP, INC. TO ACQUIRE HIGHLANDS BANCORP, INC.
* LAKELAND BANCORP INC - DEAL FOR $19.79 PER SHARE
* LAKELAND BANCORP INC - TRANSACTION IS VALUED AT
APPROXIMATELY
$56.7 MILLION ON A FULLY DILUTED BASIS, OR $19.79 PER SHARE
* LAKELAND BANCORP INC - DEAL EXPECTED TO BE APPROXIMATELY
4%
ACCRETIVE TO LAKELAND BANCORP'S EARNINGS PER SHARE IN 2019
* LAKELAND BANCORP INC - EXPECTS TO ISSUE ABOUT 2.8 MILLION
SHARES
OF COMMON STOCK IN MERGER
* LAKELAND BANCORP INC - WILL CASH OUT OUTSTANDING HIGHLANDS
BANCORP OPTIONS
Source text for Eikon: ID:nGNX97bqxN
Further company coverage: LBAI.O
((Reuters.Briefs@thomsonreuters.com;))
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