Election deadline extended in proposed merger of RBC Centura, Alabama National

By Lisa Kerner

Charlotte, N.C., Jan. 30 - Alabama National BanCorporation shareholders now have until 6 p.m. ET on Feb. 8 to elect to receive cash or stock in the company's pending merger with RBC Centura Banks, Inc.

Originally, the election deadline was set for 6 p.m. ET on Jan. 31, according to a company news release.

In September, RBC Centura Banks agreed to acquire Alabama National for $80 per share in a cash and stock deal valued at some $1.6 billion.

Under the merger agreement, Alabama National will be merged with and into RBC Centura, with RBC Centura as the surviving corporation.

The merger is expected to be completed between Feb. 1 and April 30.

Alabama National stockholders approved the adoption of the merger agreement with RBC Centura, a wholly owned subsidiary of Toronto-based Royal Bank of Canada, on Jan. 24.

Alabama National is a bank holding company based in Birmingham, Ala.

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