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Stock impact report

Kearny Financial Corp. Announces Merger with MSB Financial Corp.

Kearny Financial (KRNY) 
Last kearny financial earnings: 4/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: kearnybank.com
Company Research Source: GlobeNewswire
FAIRFIELD, N.J. and MILLINGTON, N.J., Dec. 18, 2019 (GLOBE NEWSWIRE) -- Kearny Financial Corp. (Nasdaq: KRNY), the holding company for Kearny Bank, (“Kearny”), and MSB Financial Corp. (Nasdaq: MSBF), the holding company for Millington Bank, (“Millington”) , announced today that the companies have entered into a definitive agreement pursuant to which Kearny will acquire Millington in a transaction valued over $94 million based on Kearny’s closing stock price on Tuesday, December 17, 2019 of $14.10 per share.  Under the terms of merger, which was unanimously approved by both Boards of Directors, Millington will merge with and into Kearny, and each outstanding share of Millington common stock will be exchanged for 1.3 shares of KRNY common stock or $18.00 in cash.  Millington stockholders may elect cash or stock, or a combination thereof, subject to proration to ensure that, in the aggregate, 10% of Millington shares will be converted into cash and 90% of Millington shares will be conv Show less Read more
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