ConnectOne Bancorp Has Agreed To Merge With First Of Long Island Corporation In Transaction Valued At Approximately $284M, Or Approximately $12.40 Per First Of Long Island Share
Portfolio Pulse from Benzinga Newsdesk
ConnectOne Bancorp is set to merge with First Of Long Island Corporation in a deal valued at $284 million. First of Long Island shareholders will receive 0.5175 shares of ConnectOne for each of their shares. The merged entity will operate under the ConnectOne brand with $14 billion in assets.
September 05, 2024 | 11:24 am
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ConnectOne Bancorp is merging with First Of Long Island Corporation in a $284 million deal. The merger will expand ConnectOne's assets to $14 billion.
The merger will significantly increase ConnectOne's assets and market presence, likely leading to positive investor sentiment and a short-term stock price increase.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
First Of Long Island Corporation is merging with ConnectOne Bancorp. Shareholders will receive 0.5175 shares of ConnectOne for each FLIC share.
The merger provides First Of Long Island shareholders with ConnectOne shares, potentially offering value appreciation and stability, likely leading to a positive short-term impact on FLIC's stock price.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100