Edition:
United Kingdom

Wesbanco Inc To Merge With Farmers Capital Bank Corporation


Thursday, 19 Apr 2018 

April 19 (Reuters) - Farmers Capital Bank Corp ::WESBANCO, INC. ANNOUNCES AGREEMENT AND PLAN OF MERGER WITH FARMERS CAPITAL BANK CORPORATION.WESBANCO INC - DEAL FOR A TOTAL VALUE OF APPROXIMATELY $378.2 MILLION.WESBANCO INC - EXCLUDING CERTAIN ONE-TIME MERGER CHARGES, DEAL IS ANTICIPATED TO BE ABOUT 3% ACCRETIVE TO EARNINGS IN 2019.WESBANCO INC - FARMERS SHAREHOLDERS TO BE ENTITLED TO RECEIVE 1.053 SHARES OF CO'S STOCK & CASH OF $5/SHARE FOR EACH SHARE OF FARMERS STOCK.WESBANCO INC - MERGER IS EXPECTED TO QUALIFY AS A TAX-FREE REORGANIZATION.WESBANCO INC - UPON COMPLETION OF MERGER, WESBANCO WILL ADD ONE FARMERS DIRECTOR TO ITS BOARD OF DIRECTORS.WESBANCO INC - EXCLUDING CERTAIN ONE-TIME MERGER CHARGES, DEAL IS ANTICIPATED TO BE ABOUT 5% ACCRETIVE TO EARNINGS IN 2020.WESBANCO - ALL DIRECTORS, SOME EXECUTIVE OFFICERS OF FARMERS ENTERED INTO VOTING AGREEMENTS WITH CO TO VOTE CERTAIN-OWNED SHARES IN FAVOR OF DEAL.WESBANCO INC - DEAL UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH CO AND FARMERS CAPITAL BANK CORP.WESBANCO INC - WILL EXCHANGE A COMBINATION OF ITS COMMON STOCK AND CASH FOR FARMERS COMMON STOCK.