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

Annapolis Bancorp Inc. (ANNB: Quote) announced after the bell Monday that it agreed to be acquired by F.N.B. Corp. (FNB: Quote) 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.

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by RTT Staff Writer

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