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Home BancShares Inc Announces Approvals For Merger With Liberty Bancshares Inc

Tuesday, 3 Sep 2013 04:16pm EDT 

Home BancShares Inc announced that it has received approval from the Federal Reserve Board and the Arkansas State Bank Board of its applications for the previously announced merger with Liberty Bancshares, Inc. (Liberty) Additionally, Home has gone effective with its Form S-4 registration statement filed with the Securities and Exchange Commission. The boards of both, Home and Liberty met on August 30th to approve additional steps for the transaction to proceed since both boards had previously given their approvals for merger. The record date is set for September 26th for shareholders to be eligible to vote. Under the terms of the merger agreement, shareholders of Liberty will receive $250 million of Home common stock plus $30 million in cash. The merger will significantly increase the Company's deposit market share in Arkansas. The acquisition is expected to close in late October subject to Home and Liberty shareholder approval. 

Company Quote

-0.17 -0.53%
11 Jul 2014