Benzinga's M&A Chatter for Monday December 29, 2014
Benzinga 11 years ago
NewsRumorsM&AMovers
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday December 29, 2014:
LCNB to Aquire BNB Bancorp in Cash, Stock Deal
The Deal:
LCNB Corp. (NASDAQ: LCNB), the holding company for LCNB National Bank, and BNB Bancorp, Inc. (OTC: BNBK), the holding company for Brookville National Bank of Brookville, Ohio, announced Monday that LCNB will acquire BNB Bancorp, Inc., in a stock and cash transaction valued at approximately $12.6 million. BNBK shareholders will receive 2.005 shares of LCNB common stock and $15.75 per share in cash, for each share of BNBK common stock, for a total value of $45.00 per share. The deal is expected to close in Q2 of 2015. LCNB shares closed Monday at $14.64, up $0.05. Gannett Sells Gannett Healthcare Group, Terms Not Disclosed The Deal:
Gannett Co., Inc. (NYSE: GCI) announced Monday, it has sold Gannett Healthcare Group to online education and training provider, OnCourse Learning. The sale price was not disclosed. Gannett shares closed Monday at $32.50, up $0.74. Jinpan Announces Termination of Go-Private Deal The Termination:
Jinpan International Limited (NYSE: JST) announced Monday, that it received a letter from FNOF E&M Investment Limited and Chairman of the Board of Directors, President and CEO, Zhiyuan Li, withdrawing their preliminary non-binding proposal to acquire all outstanding shares of the company. Jipan had received a "Go-Private" proposal of $8.80 per share on September 22, 2014. Jinpan International shares closed Monday at $7.35 and traded down 5% after-hours.
LCNB Corp. (NASDAQ: LCNB), the holding company for LCNB National Bank, and BNB Bancorp, Inc. (OTC: BNBK), the holding company for Brookville National Bank of Brookville, Ohio, announced Monday that LCNB will acquire BNB Bancorp, Inc., in a stock and cash transaction valued at approximately $12.6 million. BNBK shareholders will receive 2.005 shares of LCNB common stock and $15.75 per share in cash, for each share of BNBK common stock, for a total value of $45.00 per share. The deal is expected to close in Q2 of 2015. LCNB shares closed Monday at $14.64, up $0.05. Gannett Sells Gannett Healthcare Group, Terms Not Disclosed The Deal:
Gannett Co., Inc. (NYSE: GCI) announced Monday, it has sold Gannett Healthcare Group to online education and training provider, OnCourse Learning. The sale price was not disclosed. Gannett shares closed Monday at $32.50, up $0.74. Jinpan Announces Termination of Go-Private Deal The Termination:
Jinpan International Limited (NYSE: JST) announced Monday, that it received a letter from FNOF E&M Investment Limited and Chairman of the Board of Directors, President and CEO, Zhiyuan Li, withdrawing their preliminary non-binding proposal to acquire all outstanding shares of the company. Jipan had received a "Go-Private" proposal of $8.80 per share on September 22, 2014. Jinpan International shares closed Monday at $7.35 and traded down 5% after-hours.