Camden National Corporation To Acquire Northway Financial In All-Stock Transaction Valued At ~$86.6M; Northway Shareholders To Receive 0.83 Shares Of Camden National Common Stock For Each Outstanding Share Of Northway
Portfolio Pulse from Benzinga Newsdesk
Camden National Corporation is set to acquire Northway Financial in an all-stock transaction valued at approximately $86.6 million. Northway shareholders will receive 0.83 shares of Camden National common stock for each outstanding share of Northway.
September 10, 2024 | 12:21 pm
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Camden National Corporation is acquiring Northway Financial in an all-stock deal valued at $86.6 million. This acquisition could potentially expand Camden's market presence and shareholder value.
The acquisition is likely to positively impact Camden National's stock as it expands its market presence and could lead to increased shareholder value. The all-stock nature of the deal suggests confidence in Camden's stock valuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Northway Financial shareholders will receive 0.83 shares of Camden National for each Northway share in the $86.6 million acquisition deal. This could lead to a short-term increase in Northway's stock value.
The acquisition terms provide Northway shareholders with Camden National shares, which could lead to a short-term increase in Northway's stock value as investors anticipate the benefits of the merger.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100