FONT-SIZE Plus   Neg

North Central Bancshares Announces Expiration Of "Go Shop" Period

North Central Bancshares Inc. (FFFD) announced the expiration of the so-called "go shop" period pursuant to the terms of the previously announced merger agreement entered into on March 12, 2012 by and among North Central, Great Western Bancorporation Inc. and 150, Inc., a newly-formed wholly-owned subsidiary of Great Western.

As per the Merger Agreement, North Central and its representatives had the right to pursue alternative acquisition proposals from third parties from the date of the Merger Agreement through April 12, 2012. Despite the solicitation efforts of North Central's financial advisor, Keefe, Bruyette & Woods, Inc., which informed various other banking companies of this "go shop" period, no alternative acquisition proposals were received prior to the expiration of the "go shop" period, North Central Bancshares said.

As per the terms of the Merger Agreement, each issued and outstanding share of common stock of North Central immediately prior to the effective time of the merger of 150 with North Central will be converted into the right to receive $30.58 per share, in cash and without interest and subject to any applicable withholding, representing an approximate premium of 39% over the share closing price on March 12, 2012, the date of entry into the Merger Agreement.

North Central and Great Western anticipate that the Merger will be completed by the summer of 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several... Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles.
comments powered by Disqus
Follow RTT