May 23, 2017 / 10:07 PM / 4 months ago

BRIEF-Horizon Bancorp to merge with Lafayette Community Bancorp

May 23 (Reuters) - Horizon Bancorp

* Horizon bancorp and lafayette community bancorp announce the signing of a merger agreement

* Horizon bancorp - deal for implied price of lafayette common stock is $16.64 per share

* Horizon bancorp - under terms of merger agreement, shareholders of lafayette will receive fixed consideration of 0.5878 shares of horizon common stock

* Transaction value for shares of common stock, owned by shareholders other than horizon, is approximately $32.0 million

* Shareholders owning less than 100 shares of lafayette common stock will receive $17.25 in cash for each share

* Horizon bancorp - shareholders of lafayette to get fixed consideration of 0.5878 shares of horizon stock, $1.73 in cash for each share of lafayette

* Horizon bancorp - under terms of merger agreement, shareholders of lafayette will also receive $1.73 in cash

* Horizon bancorp - combined operations will be continued under horizon bank name

* Horizon bancorp - lafayette community bank will be merged into horizon bank Source text for Eikon: Further company coverage:

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