Codorus Valley To Merge With And Into Orrstown Financial Services In An All-stock Transaction Valued At $207M, Or $21.31 Per Share Of Codorus Valley Common Stock
Portfolio Pulse from Benzinga Newsdesk
Codorus Valley Bancorp, Inc. is set to merge with Orrstown Financial Services, Inc. in an all-stock transaction valued at $207 million, equivalent to $21.31 per share of Codorus Valley common stock.
December 12, 2023 | 9:07 pm
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Codorus Valley Bancorp, Inc. (CVLY) is merging with Orrstown Financial Services in a deal valued at $207M, with CVLY shares valued at $21.31 each.
The merger announcement typically leads to an increase in the stock price of the company being acquired due to the premium offered. CVLY shareholders are receiving a valuation that could be considered a premium, which is likely to be viewed positively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Orrstown Financial Services, Inc. (ORRF) is acquiring Codorus Valley Bancorp in an all-stock deal valued at $207 million.
For the acquiring company, Orrstown Financial, the short-term impact on stock price can be mixed due to the costs associated with the acquisition and the uncertainty about the integration process. However, the strategic nature of the acquisition may be viewed positively if investors believe in the long-term benefits.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80