January 23, 2018 / 1:28 PM / 5 months ago

BRIEF-Park National Bank Announces Plan To Welcome NewDominion Bank Into Organization In 2018

Jan 23 (Reuters) - Park National Corp:

* PARK NATIONAL BANK ANNOUNCES PLAN TO WELCOME NEWDOMINION BANK INTO ORGANIZATION IN 2018

* PARK NATIONAL CORP - ‍UNDER TERMS OF MERGER AGREEMENT, PARK WILL PAY $76.4 MILLION TO ACQUIRE REMAINING 91.45 PERCENT OF NEWDOMINION SHARES AND OPTIONS​

* PARK NATIONAL CORP - ‍NEWDOMINION WILL KEEP ITS NAME, LOCAL LEADERSHIP AND BOARD, AND MAINTAIN LOCAL DECISION-MAKING AND COMMUNITY SUPPORT​

* PARK NATIONAL - NEWDOMINION SHAREHOLDERS CAN ELECT TO GET EITHER 0.01023 SHARES OF PARK STOCK OR $1.08 IN CASH FOR EACH NEWDOMINION SHARE

* PARK NATIONAL - CO, NEWDOMINION BANK SIGNED AGREEMENT & PLAN OF MERGER, IN WHICH NEWDOMINION WILL BECOME A COMMUNITY BANK DIVISION OF PARK’S UNIT

* PARK NATIONAL - DEAL CONSIDERATON TO CONSIST OF ABOUT 60 PERCENT PARK STOCK, 40 PERCENT CASH Source text for Eikon: Further company coverage:

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