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New Deal


Announced

First Busey to acquire Cummins-American for $191m.

Financials

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Transaction Value£140m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Merger

Pending

bank holding company

Acquisition

Banks

Domestic

Majority

Friendly

Private

Single Bidder

Synopsis

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First Busey, the holding company for Busey Bank, agreed to acquire Cummins-American, the holding company for Glenview State Bank, for $191m. "Being a strong, local community bank for the communities we serve remains a top priority to both Busey and Glenview State Bank. We believe this strategic merger will benefit our clients through enhanced capabilities and products in commercial banking, wealth management and depository services. In addition, a growing, dynamic organization presents more professional growth opportunities for our associates. We remain committed to providing premier service in the communities where we work and live," Van A. Dukeman, First Busey Chairman, President and CEO.

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