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Stock Market & Financial Investment News

News Breaks
June 4, 2014
08:33 EDTONB, LSBIOld National Bancorp to acquire LSB Financial
Old National Bancorp (ONB) and Lafayette-based LSB Financial (LSBI) jointly announced the execution of a definitive agreement under which Old National will acquire LSB Financial through a stock and cash merger. Under the terms of the merger agreement, which was unanimously approved by the boards of both companies, shareholders of LSB Financial will receive 2.269 shares of Old National common stock and $10.63 in cash for each share of LSB Financial common stock. Based upon the June 3, closing price of $13.68 per share of Old National common stock, the transaction is valued at approximately $41.67 per share of LSB Financial common stock, or approximately $66.7M. The transaction value is likely to change due to fluctuations in the price of Old National common stock. As provided in the merger agreement, the exchange ratio is subject to adjustment in the event shareholders' equity of LSB Financial is below a specified amount. The transaction is expected to close in mid-to-late 4Q14. It remains subject to approval by LSB Financial's shareholders and approval by federal regulatory authorities as well as the satisfaction of other customary closing conditions provided in the merger agreement. The merger agreement also provides that Lafayette Savings Bank will be merged into Old National Bank.
News For ONB;LSBI From The Last 14 Days
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October 29, 2014
12:59 EDTONBFounders Financial investors approve merger with Old National Bancorp
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October 27, 2014
09:06 EDTONBOld National Bancorp reports Q3 EPS 26c, consensus 24c
Reports Q3 revenue $147.27M, consensus $142.48M. Reports Q3 book value per share $12.35. Reports Q3 Tier 1 capital ratio 13%.
October 24, 2014
10:03 EDTONBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
07:45 EDTONBOld National Bancorp upgraded to Buy from Neutral at DA Davidson
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