Brief: Lcnb Corp- On Nov 28, Co Entered Into An Agreement And Plan Of Merger With Eagle Financial Bancorp

LCNB

29/11/2023 16:00

LCNB Corp  LCNB.O :
    * LCNB CORP-  ON NOV 28, CO ENTERED INTO AN AGREEMENT AND
PLAN OF
MERGER WITH EAGLE FINANCIAL BANCORP
    * LCNB CORP. AGREES TO ACQUIRE EAGLE FINANCIAL BANCORP, INC.
    * LCNB- EFBI SHAREHOLDERS WILL HAVE OPPORTUNITY TO ELECT TO
RECEIVE EITHER 1.1401 SHARES OF CO STOCK OR $19.10/SHARE IN CASH
FOR EACH SHARE OF EFBI COMMON STOCK OWNED
    * LCNB CORP- MERGER IS EXPECTED TO CLOSE IN Q2 OF 2024
    * LCNB CORP - DEAL EXPECTED TO BE ACCRETIVE TO EARNINGS PER
SHARE
IN YEAR ONE
    * LCNB CORP-  A TERMINATION FEE EQUAL TO $1,025,000 WILL BE
PAYABLE BY EFBI TO LCNB UPON TERMINATION OF MERGER AGREEMENT
UNDER CERTAIN CIRCUMSTANCES.
    * LCNB-BASED ON CO’S CLOSING SHARE PRICE OF $14.65 AS OF NOV
28,
ASSUMING 60% OF EFBI SHARES ELECT STOCK, AGGREGATE TRANSACTION
VALUE IS $23.1 MILLION

Source text for Eikon:  ID: 
Further company coverage:  LCNB.O