Western Liberty Bancorp (WLBC) announced after the close Friday that it agreed to be acquired by Western Alliance Bancorporation (WAL) in a transaction valued at approximately $55 million. Each shareholder of Western Liberty Bancorp may elect to receive either $4.02 in cash or 0.4341 of a share of Western Alliance Bancorporation for each Western Liberty share owned.
Western Liberty Bancorp has gapped open sharply higher Monday and is now up 0.99 at $3.84 on above average volume. The stock has leaped to a new high for the year.
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