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News Breaks
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February 10, 2012
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| 09:48 EDT |  | HBNC |
| theflyonthewall.com: | Horizon Bancorp to acquire Heartland Bancshares | | Heartland Bancshares announced that it had agreed to be acquired by Horizon Bancorp (HBNC) in a stock-for-stock merger transaction. Subject to satisfaction of the terms and conditions of the merger agreement, Heartland expects that the transaction will close in the second quarter of 2012. Under the merger agreement, Horizon has agreed to issue to Heartland's shareholders Horizon common stock at the exchange ratio of 0.54 shares, subject to adjustment, of Horizon common stock for every share of Heartland common stock that is outstanding at the time of effectiveness of the merger. Based on Horizon's closing price per share and Heartland's 1.44M total dilutive common shares outstanding, the acquisition pricing is approximately $14M on February 8. :theflyonthewall.com |
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