Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

North Central Bancshares Announces Expiration Of "Go Shop" Period

North Central Bancshares Inc. (FFFD: Quote) 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.

Register
To receive FREE breaking news email alerts for North Central Bancshares Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The... Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.