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Article: North Fork Bancorporation, Inc. to Acquire New York Bancorp, Inc. in a Common Stock Transaction Valued at Approximately $800 Million.
- Article from:
- Business Wire
- Article date:
- October 7, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELVILLE, N.Y.--(BUSINESS WIRE)--Oct. 7, 1997--North Fork Bancorporation, Inc. (NYSE: NFB) and New York Bancorp, Inc. (NYSE: NYB) jointly announced today that they have signed a definitive merger agreement whereby North Fork would acquire New York Bancorp in a stock-for-stock merger valued at approximately $800 million.
New York Bancorp is the parent of Home Federal Savings Bank. Under terms of the agreement, each share of New York Bancorp will be converted into North Fork common stock at a fixed exchange ratio of 1.19 shares of North Fork for each share of New York Bancorp.
Approximately 26 million shares of North Fork stock will be issued in the ...