Brunswick Bancorp (OTCMKTS:BRBW) Stock In Focus After Merger Update

News about mergers always attracts the interest of the markets and yesterday such an announcement had been made. Mid Penn Bancorp Inc and Brunswick Bancorp (OTCMKTS:BRBW) jointly announced yesterday that they had got all the necessary approvals from the bank regulatory agencies so as to go forward and complete the proposed merger between the two entities.

Trading Data

On Tuesday, BRBW stock ended flat at $16.00 with 100 shares, compared to volume of 1.72K shares. The stock moved within a range of $16.00 – 16.00 after opening trade at $16.00.

Mid Penn Bancorp, Inc. and Brunswick Bancorp Receive Regulatory and Shareholder Approvals for Merger

In addition to that, it was also announced that the shareholders of the both the company had voted overwhelmingly in favor of the merger at the special meetings of the two company’s shareholders which had been held on April 25.

Rory G Ritrievi, who is the Chief Executive Officer and President of Mid Penn, spoke about the proposed transaction. He noted that both parties were pleased to have got the necessary approvals from the concerned agencies. However, more importantly, he went on to state that the merge was going to help with its growth objectives and lead to long term value creation for the shareholders.

More than 99% of the shareholders of Brunswick voted in favor of the merger and at Mid Penn, more than 97% of the shareholders voted in favor. It may be the right time to keep an eye on further developments.