As part of the deal announced on Monday, each MB Financial shareholder will get $54.20, comprising 1.45 shares of Fifth Third common stock and $5.54 in cash, a 24 percent premium to MB Financial’s last close. Shares of MB Financial were up 14 percent at $49.75 in early trade, while Fifth Third shares were down 7.2 percent at $31.12. D.A. Davidson analyst Kevin Reevey said that Fifth Third was limited in their ability to expand in Ohio and that the acquisition of Chicago-based MB Financial was the most logical move for them, from a geographical standpoint, in order …read more
Source:: Yahoo Finance
