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Valley National Bancorp to acquire CNLBancshares

7:00am EDT

Valley National Bancorp and CNLBancshares Inc:Enters into a merger agreement whereby the common shareholders of CNLBancshares will receive 0.75 of a share of Valley common stock for each CNLBancshares share they own, subject to adjustment in the event Valley's average stock price falls below $8.80 or rises above $10.13 prior to closing.Says transaction is valued at an estimated $207 million, based on Valley's closing stock price on May 22, 2015.Anticipates this transaction will be accretive to Valley's earnings within 12 months from closing.

ING Groep NV reduces stake in NN Group to 42.4 percent

Tuesday, 26 May 2015 05:00pm EDT

ING Groep NV:NN Group announces that ING Group has agreed to sell 45 million shares of NN Group at a price of 25.46 euros per share net of commissions.The transaction reduces ING Group`s stake in NN Group from 54.8 percent to 42.4 percent. NN Group will not receive any proceeds from the offering.The shares were offered by way of an accelerated book building offering to institutional investors. As part of this transaction, NN Group repurchased 5.9 million ordinary shares from ING Group at 25.46 euros per share for a total amount of 150 million euros.As of the settlement of the transaction, the remaining shares in NN Group held by ING Group will be subject to a lock-up period of 90 days (subject to certain customary exceptions).The transaction is expected to settle on 29 May 2015.

CTBC Financial Holding subsidiary to acquire CITIC Bank International (China)

Tuesday, 26 May 2015 05:12am EDT

CTBC Financial Holding Co Ltd:Says subsidiary CTBC Bank Co., Ltd. to acquire 100 pct stake in CITIC Bank International (China) Limited in Mainland China from Hong Kong-based China CITIC Bank International Limited, in Hong Kong dollars equivalent to 2,353 mln yuan (T$11,670 mln).

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Analyst Research

Report Title Price
Provider: Brown Brothers Harriman & Co.
$12.00
Provider: Brown Brothers Harriman & Co.
$12.00
Provider: Brown Brothers Harriman & Co.
$35.00
Provider: Brown Brothers Harriman & Co.
$35.00
Provider: Swiss Capital
$92.00

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