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BRIEF-First Citizens BancShares proposes to acquire KS Bancorp for $35.00/shr
2017年7月13日 / 晚上6点30分 / 4 个月前

BRIEF-First Citizens BancShares proposes to acquire KS Bancorp for $35.00/shr

July 13 (Reuters) - First Citizens BancShares Inc:

* First Citizens Bancshares proposes to acquire KS Bancorp for $35.00 per share

* Made proposal to acquire KS Bancorp for ‍transaction valued at about $45.8 million

* ‍Proposal was conveyed in a letter to KS Bancorp’s board of directors​

* Says “‍objective is to engage in substantive discussions with KS Bancorp​”

* By letter dated July 11, KS Bancorp’s CEO Keen rejected First Citizens’ proposal to buy KS Bancorp at $33.00 per share

* KS Bancorp’s CEO Harold Keen informed that its board determined its strategy of reorganizing would be “more beneficial” than accepting co’s earlier proposal​

* Disappointed by KS Bancorp’s rejection of earlier offer without any discussion​

* Says new proposal is not conditioned on financing

* Says “‍believe” that KS Bancorp shareholders will favor immediate liquidity at “substantial” premium that its proposal would provide​ Source text for Eikon: Further company coverage:

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