Susquehanna Bancshares/Abington Bancorp
On January 26, 2011, Susquehanna Bancshares, Inc. (Nasdaq: SUSQ) and Abington Bancorp, Inc. (Nasdaq: ABBC) announced that they have entered into a definitive agreement whereby Susquehanna will acquire all outstanding shares of common stock of Abington in a stock-for-stock transaction valued at $273 million.
The transaction is expected to be complete in Q311.
Under terms of the agreement, Abington shareholders will receive 1.32 shares of Susquehanna common stock for each share of Abington common stock.
Susquehanna was advised in this transaction by J.P. Morgan Securities LLC. as financial advisor and Morgan, Lewis & Bockius LLP as legal counsel. Abington was advised by Keefe, Bruyette & Woods as financial advisor and Elias, Matz, Tiernan & Herrick LLP as legal counsel.
The transaction is expected to be complete in Q311.
Under terms of the agreement, Abington shareholders will receive 1.32 shares of Susquehanna common stock for each share of Abington common stock.
Susquehanna was advised in this transaction by J.P. Morgan Securities LLC. as financial advisor and Morgan, Lewis & Bockius LLP as legal counsel. Abington was advised by Keefe, Bruyette & Woods as financial advisor and Elias, Matz, Tiernan & Herrick LLP as legal counsel.
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Keefe, Bruyette & Woods Downgrades Abington Bancorp (ABBC) to Market Perform; SUSQ Learns Its ABCs, Set to Acquire ABBC
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FBR Capital Reiterates an 'Outperform' on Susquehanna Bancshares (SUSQ); TARP Repaid, Strong 4Q Results, and Acquisition of Abington
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After-Hours Movers 01/26: IVD, NFLX, ABBC, TSCO, QCOM, COV, PLD, AMLN, LSI Higher; PSTI, MMI, PMTC, VRTU, SBUX, VAR, ETFC Lower
