Northwest Bancshares (NWBI) said Wednesday that it has received all regulatory and shareholder approvals required to complete its planned merger with Penns Woods Bancorp (PWOD).

The companies announced the merger deal in December, under which Northwest Bancshares is to acquire Penns Woods Bancorp in an all-stock transaction valued at about $270.4 million

Northwest Bancshares expects to close the transaction in late July.

Shares of Northwest Bancshares were up over 2% while Penns Woods shares were gaining more than 4% in recent Wednesday trading.

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