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BRIEF-Mutualfirst Financial to buy Universal Bancorp for $65.6 mln
October 4, 2017 / 9:14 PM / 19 days ago

BRIEF-Mutualfirst Financial to buy Universal Bancorp for $65.6 mln

Oct 4 (Reuters) - Mutualfirst Financial Inc

* Mutualfirst Financial Inc and Universal Bancorp announce merger agreement

* Cash and stock transaction is valued at approximately $65.6 million​

* At closing, combined company is expected to have $2 billion in total assets​

* Says will acquire 100% of outstanding shares of Universal in exchange for a mixture of cash and common shares of Mutualfirst​

* Says ‍transaction, which has been unanimously approved by both Mutualfirst’s and Universal’s boards of directors​

* Shareholders of Universal will be entitled to receive 15.6 shares of co, $250.00 in cash for each common share of universal

* Merger expected to be accretive to Mutualfirst’s EPS in 2018, with cost savings implemented in 2019 accretion projected to be about 13% Source text for Eikon: Further company coverage:

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