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Article: Porter Bancorp Commences Exchange Offer for Citizens First Corporation.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Porter Bancorp, Inc. (NASDAQ: PBIB) announced that it has commenced an exchange offer to acquire all of the outstanding common shares of Citizens First Corporation (NASDAQ: CZFC) for $9.00 per share. CZFC shareholders will have an option to receive $9.00 in cash, or 0.5686 Porter common shares, or $4.50 in cash and 0.2843 Porter common shares. The exchange offer is scheduled to expire at 5:00 P.M., ET, on December 22, 2009, unless extended or terminated.
On October 15, 2009, Porter Bancorp announced that it had entered into option agreements to purchase approximately 15.8% of the Citizens First common stock for $9.00 per share, raising its beneficial ownership to ...