Citizens Financial Services, Inc. Announces Preliminary Results Of Merger Consideration Elections Regarding Pending HV Bancorp, Inc. Merger; HVBC Stockholders Were Entitled To Elect To Receive Either $30.50 In Cash Or 0.4040 Shares Of CZFS Stock
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Citizens Financial Services, Inc. (CZFS) announced the preliminary results of the merger consideration elections for the pending merger with HV Bancorp, Inc. (HVBC). The transaction is expected to close on June 16, 2023. HVBC stockholders were entitled to elect to receive either $30.50 in cash or 0.4040 shares of CZFS stock.
June 13, 2023 | 1:25 pm
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NEUTRAL IMPACT
Citizens Financial Services, Inc. (CZFS) announced the preliminary results of the merger consideration elections for the pending merger with HV Bancorp, Inc. (HVBC). The transaction is expected to close on June 16, 2023.
The announcement of the preliminary results of the merger consideration elections is an important step in the merger process between CZFS and HVBC. However, the short-term impact on CZFS stock price is neutral as the market has likely already priced in the merger news and the transaction is still subject to customary closing conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
HV Bancorp, Inc. (HVBC) is in a pending merger with Citizens Financial Services, Inc. (CZFS). HVBC stockholders were entitled to elect to receive either $30.50 in cash or 0.4040 shares of CZFS stock. The transaction is expected to close on June 16, 2023.
The announcement of the preliminary results of the merger consideration elections is an important step in the merger process between HVBC and CZFS. However, the short-term impact on HVBC stock price is neutral as the market has likely already priced in the merger news and the transaction is still subject to customary closing conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100