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Annapolis Bancorp Inc. (ANNB) Surged To A New High After Merger Announcement

Annapolis Bancorp Inc. (ANNB) announced after the bell Monday that it agreed to be acquired by F.N.B. Corp. (FNB) in an all stock transaction valued at approximately $12.09 per share, or $51 million.

Annapolis Bancorp gapped open dramatically higher Tuesday, but traded in a narrow range throughout the session. Shares finished up by 4.04 at $11.79 on the highest volume of the year. The stock surged past resistance and set a new high for the year.

by RTTNews Staff Writer

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