Under the terms of the merger agreement, for each share of Carolina Bank Holdings common stock, shareholders have the right, subject to certain limitations, to receive either $20.00 in cash or 1.002 shares of First Bancorp common stock. Per the merger agreement, 25% of the consideration will be paid in cash and the balance of 75% will be in newly issued shares of First Bancorp common stock. The mailing of materials regarding the election and exchange of Carolina Bank Holdings stock certificates will commence next week. Also under the merger agreement, Carolina Bank Holdings' subsidiary bank, Carolina Bank, has merged with First Bank, a North Carolina bank and the wholly-owned banking subsidiary of First Bancorp. First Bancorp plans to complete systems integration in August.
Hedge fund managers like David Einhorn, Dan Loeb, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing […]
We have been waiting for this for a year and finally the third quarter ended up showing a nice bump in the performance of small-cap stocks. Both the S&P 500 and Russell 2000 were up since the end of the second quarter, but small-cap stocks outperformed the large-cap stocks by double digits. This is important […]