Brief: First Defiance Financial to buy Commercial Bancshares for transaction value of $63 mln

Premier Financial (OHIO)

23/08/2016 23:45

Aug 23 (Reuters) - First Defiance Financial Corp  FDEF.O  
    * First Defiance Financial Corp and Commercial Bancshares 
Inc announce definitive merger agreement 
    * First Defiance will acquire Commercial in a transaction 
valued at $51.00 per share 
    * Acquisition will add $301 million in deposits and $298 
million in loans 
    * Commercial common shareholders to receive 1.1808 shares of 
First Defiance common stock or cash in amount of $51.00 per 
share 
    * Transaction, after one-time costs, is expected to be 
immediately accretive to earnings 
    * Total consideration for Commercial's common shares 
outstanding will consist of 80% First Defiance stock and 20% 
cash 
    * Aggregate transaction value of $63.0 million 
    * Aggregate transaction value includes additional cash 
payment of about $1.5 million to cancel outstanding stock 
options 
 
Source text for Eikon:  ID:nBw6WRWwha  
Further company coverage:  FDEF.O  
 
 ((Bangalore.newsroom@thomsonreuters.com;))