By Denny Jacob
William Penn Bancorporation agreed to merge with and into Mid Penn Bancorp in an all-stock value deal valued at about $127 million.
William Penn shareholders will receive 0.4260 shares of Mid Penn common stock for every share of William Penn. Based on Mid Penn's closing stock price of $31.88 as of Oct. 30, the implied transaction value is about $13.58 a William Penn share, according to the companies.
The merger, expected to close in the first half of 2025, will create a combined community banking franchise with about $6.3 billion in total assets as of Sept. 30.
The merger is expected to be immediately accretive to Mid Penn's estimated earnings per-share and to have a positive long-term impact on Mid Penn's key profitability and operating ratios. The transaction has been unanimously approved by each company's board.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 01, 2024 06:29 ET (10:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。