Key Developments For American Bancorp of New Jersey Inc
American Bancorp of New Jersey, Inc. Delists From NASDAQ-Stock Exchange
The Stock Exchange reported that American Bancorp of New Jersey, Inc. has been delisted from NASDAQ.
Investors Bancorp, Inc. Announces Completion of Acquisition of American Bancorp of New Jersey, Inc.
Investors Bancorp, Inc. announced the completion of Investors Bancorp's acquisition of American Bancorp of New Jersey, Inc., effective as of May 31, 2009.
American Bancorp of New Jersey, Inc. Announces Merger Consideration Election, Allocation And Proration Results For Merger With Investors Bancorp, Inc.
American Bancorp of New Jersey, Inc. announced the results of elections made by stockholders of the Company as to the form and allocation of merger consideration to be received in exchange for their shares of American common stock resulting from the merger of the Company with and into Investors Bancorp, Inc. (Investors). Under the terms of the Agreement and Plan of Merger dated December 14, 2008, amended as of March 9, 2009, 65% of the Company common stock will be converted into Investors common stock and the remaining 35% will be converted into cash. The Company's stockholders were given the option to receive either 0.9218 shares of Investors common stock, $12.50 in cash, or a combination of Investors common stock and cash for each the Company's common share owned, subject to proration to ensure that in the aggregate 65% of the Company's shares will be converted into Investors common stock. The Company's stockholders who made a stock election for all or a portion of their shares of the Company's common stock will receive 0.9218 shares of Investors common stock for each of their stock election shares. The Company's stockholders who made a stock election for all or a portion of their shares of the Company's common stock will receive 0.9218 shares of Investors common stock for each of their stock election shares.
Investors Bancorp, Inc. And American Bancorp of New Jersey, Inc. Announce Revised Merger Agreement
Investors Bancorp, Inc. and American Bancorp of New Jersey, Inc. announced that they have amended the merger agreement for Investors Bancorp to acquire American Bancorp of New Jersey. Under the revised terms of the merger agreement, which has been approved by the boards of directors of both companies, 65% of American Bancorp shares will be converted into Investors Bancorp common stock and the remaining 35% will be converted into cash, compared to a 70% stock and 30% cash consideration mix as set forth in the original merger agreement. The exchange ratio of 0.9218 share of Investors Bancorp common stock for each share of American Bancorp common stock (for those American Bancorp shareholders who are to receive Investors Bancorp common stock) remains unchanged. The transaction is expected to close during the second calendar quarter of 2009.
American Bancorp of New Jersey, Inc. Announces Quarterly Cash Dividend
American Bancorp of New Jersey, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share to stockholders of record as of March 10, 2009 payable on or about March 24, 2009.
