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MFSF - MutualFirst Financial Inc News Story

$24.87 -0.1  -0.2%

Last Trade - 24/04/20

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £63.8m
Position in Universe th / 6849

BRIEF-Mutualfirst Financial to buy Universal Bancorp for $65.6 mln

Wed 4th October, 2017 10:00pm
Oct 4 (Reuters) - Mutualfirst Financial Inc  MFSF.O  
    * Mutualfirst Financial Inc and Universal Bancorp announce 
merger agreement 
    * Cash and stock transaction is valued at approximately 
$65.6 million 
    * At closing, combined company is expected to have $2 
billion in total assets 
    * Says will acquire 100% of outstanding shares of Universal 
in exchange for a mixture of cash and common shares of 
Mutualfirst 
    * Says transaction, which has been unanimously approved by 
both Mutualfirst's and Universal's boards of directors 
    * Shareholders of Universal will be entitled to receive 15.6 
shares of co, $250.00 in cash for each common share of universal 
    * Merger expected to be accretive to Mutualfirst's EPS in 
2018, with cost savings implemented in 2019 accretion projected 
to be about 13% 
 
Source text for Eikon:  ID:nPn1GBYz0a  
Further company coverage:  MFSF.O  
 
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