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WesBanco, Oak Hill Financial to hold shareholders meetings to vote on merger
By Devika Patel
Knoxville, Tenn., Oct. 11 - WesBanco, Inc. and Oak Hill Financial, Inc. each will hold special shareholders meetings at 1 p.m. ET on Nov. 16 to vote on WesBanco's planned acquisition of Oak Hill, according to a 424B3 filing with the Securities and Exchange Commission Thursday.
The cash and stock transaction, valued at $201 million, was announced on July 19.
According to the filing, the companies estimate that current WesBanco shareholders will own approximately 77.3% of the combined company and current Oak Hill shareholders will own approximately 22.7%.
As previously reported, both companies' boards of directors have approved the deal, which includes a $6 million termination fee. The transaction is expected to close late in the fourth quarter of 2007.
Oak Hill is a financial holding company located in Jackson, Ohio.
WesBanco is a multi-state bank holding company based in Wheeling, W.Va.
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