Peoples Financial Services, FNCB Bancorp Agree To Combine In An All-stock Strategic Merger Valued At $129.0M
Portfolio Pulse from Benzinga Newsdesk
Peoples Financial Services and FNCB Bancorp have agreed to a strategic merger valued at $129.0M. FNCB shareholders will receive 0.1460 shares of Peoples common stock for each share of FNCB common stock they own. The deal implies a price per share to holders of FNCB Common Stock of approximately $6.44 per share. The transaction is projected to deliver 59% EPS accretion to Peoples 2025 estimated EPS and inclusive of all merger synergies, with a tangible book value earn-back period of 2.4 years.
September 27, 2023 | 9:18 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
FNCB Bancorp shareholders will receive 0.1460 shares of Peoples common stock for each share of FNCB common stock they own, implying a price per share of approximately $6.44.
The merger deal implies a price per share to holders of FNCB Common Stock of approximately $6.44 per share. This could potentially impact the stock price depending on the current trading price of FNCB shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The merger with FNCB Bancorp is projected to deliver 59% EPS accretion to Peoples 2025 estimated EPS, which could potentially boost the company's stock price.
The merger is expected to significantly increase Peoples' earnings per share (EPS) by 59% in 2025, which is a positive signal for investors and could lead to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100