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

By Lisa Kerner

Charlotte, N.C., Feb. 4 - Alabama National BanCorporation shareholders now have until 6 p.m. ET on Feb. 14 to elect to receive cash or stock in the company's pending merger with RBC Centura Banks, Inc.

Previously, the deadline was extended to Feb. 8 from 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 by 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.