June 14, 2017 / 11:38 AM / 2 months ago

BRIEF-Horizon Bancorp and Wolverine Bancorp sign merger agreement

June 14 (Reuters) - Horizon Bancorp

* Horizon Bancorp and Wolverine Bancorp sign merger agreement

* Horizon Bancorp - shareholders of wolverine will receive 1.0152 shares of horizon common stock and $14.00 in cash for each share of wolverine common stock

* Horizon Bancorp - deal for implied price of $41.92 per share of wolverine common stock

* Horizon Bancorp - as per deal, wolverine bank will be merged into horizon bank, and combined operations will be continued under horizon bank name

* One director from wolverine's board will be appointed to horizon's board of directors immediately after closing of merger Source text for Eikon: Further company coverage:

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