Another Merger – LSBG

Yesterday brought the announcement that Lake Sunapee Bank Group (LSBG) agreed to be acquired by Bar Harbor Bankshares (BHB).  This will be an all stock transaction valued at approximately $17.00 per LSBG share and represents a nearly 20% premium t0 yesterday’s close.  The terms:

  • .497 shares of BHB for each LSBG share.

I’ve had my eye on BHB for a little while but never pulled the trigger.  Perhaps the premium received will allay any nagging issues.

bhb

Lake Sunapee, being one of my poster children for my bank merger thesis, occupied a Satellite slot (1.5% dividends generated) in my portfolio.  Since the dividend date will change with the merger, I’ve decided to elevate Toronto-Dominion Bank to replace LSBG since they have the same payment date.

 

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