William Penn surges on $127 mln deal with Mid Penn

Mid Penn Bancorp

01/11/2024 10:26

** Shares of William Penn Bancorporation  WMPN.O  soar ~18%
premarket
    ** Mid Penn Bancorp  MPB.O  agrees to buy WMPN in $127 mln
deal - a 7% premium to WMPN's last close
    ** "The merger enables us to accelerate our growth far more
rapidly than we could as an independent company," WMPN CEO 
Kenneth Stephon says
    ** Acquisition will allow MPB to boost its presence in
greater Philadelphia, as it doubles down on southeastern
Pennsylvania
    ** MPB shares untraded before the bell
    ** YTD, WMPN up 3.6% vs MPB's 31% surge

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))