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Article: United States : First National Bank of Litchfield to be acquired by Danbury lender.
- Article from:
- TendersInfo
- Article date:
- October 27, 2009
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Byline: babalu03
AMERICAN Union Savings Bank of Danbury on Monday announced a definitive agreement to acquire First Litchfield Financial Corp., parent of The First National Bank of Litchfield.
First Litchfield shareholders will receive $15 in cash per share, giving the deal an overall value of $35 million, Union Savings Bank officials said.
First Litchfield shares, which are traded on the over-the-counter "bulletin board" under the symbol FLFL OB, closed Friday at $5.80 per share before skyrocketing to $13.55 by the close of Monday's session on Wall Street. Before Monday, the stock had closed above $9.99 only once in the past 13 months, when it ...