Nov 1 (Reuters) - Kearny Financial Corp -
* Kearny financial corp. Announces merger with Clifton Bancorp Inc.
* Deal for $408 million
* Deal for approximately $18.25 per Clifton Bancorp share
* Agreement has been unanimously approved by boards of directors of both companies
* Deal is expected to be accretive to Kearny’s fiscal 2019 earnings per share by approximately 40 pct
* Upon closing of deal, co’s shareholders will own about 76% of combined co & Clifton shareholders will own about 24% of combined co
* Tangible book value dilution related to deal is expected to be about 2.3%, with an earn-back period of about 2.4 years Source text for Eikon: Further company coverage: