Brief: UMB Agrees To Acquire Heartland Financial

UMB Financial

29/04/2024 12:41

April 29 (Reuters) - Heartland Financial USA Inc
 HTLF.O :
    * UMB ANNOUNCES AGREEMENT TO ACQUIRE HEARTLAND FINANCIAL
    * UMB FINANCIAL CORP - PROPOSED DEAL FOR ALL-STOCK
TRANSACTION
VALUED AT APPROXIMATELY $2.0 BILLION.
    * UMB FINANCIAL CORP - DEAL APPROVED BY BOARDS OF DIRECTORS
OF
EACH COMPANY
    * UMB FINANCIAL CORP - PROPOSED DEAL FOR PER SHARE
CONSIDERATION
IS VALUED AT $45.74 PER SHARE
    * UMB FINANCIAL CORP - AT CLOSING OF TRANSACTION, FIVE
MEMBERS OF
HTLF BOARD OF DIRECTORS WILL JOIN UMB BOARD, WHICH WILL BE
EXPANDED TO 16 MEMBERS
    * UMB FINANCIAL CORP: FOLLOWING COMPLETION , FORMER HTLF
STOCKHOLDERS ARE EXPECTED TO COLLECTIVELY REPRESENT ABOUT 31% OF
COMBINED CO
    * UMB FINANCIAL CORP: HTLF STOCKHOLDERS WILL RECEIVE A FIXED
EXCHANGE RATIO OF 0.55 SHARES OF UMB COMMON STOCK FOR EACH SHARE
OF HTLF COMMON STOCK

Source text for Eikon:  ID:nGNX71T1Bv 
Further company coverage:  HTLF.O 

 ((Reuters.Briefs@thomsonreuters.com;))