BUZZ-William Penn surges on $127 mln deal with Mid Penn

Reuters

2024/11/01

** Shares of William Penn Bancorporation soar ~18% premarket

** Mid Penn Bancorp agrees to buy WMPN in $127 mln deal - a 7% premium to WMPN's last close

** "The merger enables us to accelerate our growth far more rapidly than we could as an independent company," WMPN CEO Kenneth Stephon says

** Acquisition will allow MPB to boost its presence in greater Philadelphia, as it doubles down on southeastern Pennsylvania

** MPB shares untraded before the bell

** YTD, WMPN up 3.6% vs MPB's 31% surge

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))

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