Dollar Mutual Bancorp Acquires Standard AVB Financial in Cash Transaction
On September 25, Dollar Mutual Bancorp announced its merger with Standard AVB Financial Corp. (STND). Standard Financial is a holding company and parent of Standard Bank. Dollar Mutual will acquire Standard Financial in an all-cash transaction worth $158 million. Standard’s shareholders will receive $33 in cash per share that they own.
Sonal issued an alert to its subscribers at 8:05 am. The last trade had taken place on the previous day’s close for $18.76. Standard Financial’s shares spiked higher throughout the morning and held those gains throughout the market close. The stock closed at $32.45 for an event-day gain of 73%.
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