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German American Bancorp (GABC) has provided an update.
German American Bancorp and Heartland BancCorp have agreed to a merger in which Heartland will merge into German American, with a subsequent merger of their respective banking subsidiaries. Shareholders of Heartland common stock will receive German American shares in a tax-free exchange, with certain adjustments for those held in the HLAN 401(k) Plan and options at closing. The deal, approved by both boards, is subject to regulatory and shareholder approvals with an anticipated completion in the first quarter of 2025. The merger aims to integrate the businesses for enhanced financial performance, subject to customary risks and uncertainties.
See more insights into GABC stock on TipRanks’ Stock Analysis page.
