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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (3181)	10/8/2012 10:15:59 AM
From: richardred	Respond to of 7242

NBT Bancorp to buy Alliance Financial for $233 mln Mon Oct 8, 2012 9:05am EDT Oct 8 (Reuters) - NBT Bancorp Inc said it agreed to buy Alliance Financial Corporation in a deal valued at about $233.4 million to expand its footprint in New York. The deal is valued at $48.24 per share -- a 22 percent premium to the stock's Friday close. Alliance shareholders will receive 2.1779 common shares of NBT for each Alliance share they own. NBT, which had assets of $6 billion as of June 30, will get an additional $1.4 billion in assets through the deal. This includes $890 million in net loans held for investment, and $1.1 billion in deposits. NBT shares closed at $22.15, while those of Alliance closed at $39.41 on Friday on the Nasdaq. reuters.com