M&A
confidence high
sentiment neutral
materiality 0.85
LNKB to merge with Burke & Herbert in all-stock deal; exchange ratio 0.1350
LINKBANCORP, Inc.
- Each LNKB share converts to 0.1350 shares of BHRB common stock; cash for fractional shares.
- Deal unanimously approved by both boards; termination fee of $14.2 million payable under certain conditions.
- Two LNKB directors to join BHRB board; CEO Andrew Samuel to become Senior Advisor at B&H Bank.
- Completion subject to shareholder approvals, regulatory nods (Fed, FDIC, state), and Nasdaq listing.
- Support agreements with all LNKB and BHRB directors to vote in favor of the merger.