Tower announces shareholder approval of merger with Old National Tower Financial Corporation (TOFC) announced that at its special meeting of shareholders, the shareholders of the company approved the merger of the company with and into Old National Bancorp (ONB). The merger remains subject to the satisfaction of the closing conditions contained in the merger agreement.
Old National Bancorp upgraded at Sterne Agee As noted earlier, Sterne Agee upgraded Old National Bancorp to Buy from Neutral. The firm says that investors' focus is shifting to the company's organic growth and operating leverage after it carried out several deals. Sterne notes that the company's valuation is well below that of its peers.