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Nbt Bancorp Inc and Alliance Financial Corporation Enter Into Merger Agreement

Monday, 8 Oct 2012 08:30am EDT 

Nbt Bancorp Inc and Alliance Financial Corporation announced that they have entered into a definitive agreement under which Alliance will merge with and into NBT. The merger is valued at approximately $233.4 million and is expected to close in the second quarter of 2013. The merger, approved unanimously by the boards of directors of both companies. Under the terms of the merger agreement, each outstanding share of Alliance common stock will be converted into the right to receive 2.1779 shares of NBT common stock upon completion of the merger. The transaction is valued at $48.00 per Alliance share based on NBT's average closing stock price of $22.04 for the five-day trading period ending on October 5, 2012. 

Latest Developments for NBT Bancorp Inc

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-0.15 -0.62%
18 Aug 2014