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Article: Citizens First Corporation Advises Stockholders to Take No Action in Response to Porter Bancorp's Offer.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Citizens First Corporation (NASDAQ:CZFC) today recommended that Citizens First's stockholders take no action at this time in response to the announcement by Porter Bancorp, Inc. (NASDAQ:PBIB) that it has made an unsolicited conditional tender offer to acquire Citizens First's outstanding shares of common stock.
Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, Citizens First's board will review and consider the offer, and within 10 business days, will advise Citizens First's stockholders of the board's position regarding the offer as well as its reasons for that position.
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