logo
Share SHARE
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
Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company... With a view to promoting the all new Prius brand in U.S., Toyota has launched a lighthearted commercial. It highlights the reinvention of the hybrid technology. The advertisement was aired during the first half of Super Bowl 50 and was well received in social media.
comments powered by Disqus
Follow RTT