Camco Financial rises on acquisition newsWill Atkinson | May 07, 2008 10:06am EDT | User Rating N/A
Camco Financial Corp. (Nasdaq:CAFI) shares are rising 15% after the Cambridge, Ohio-based financial holding company reported early Wednesday that it is being acquired by Warren, Ohio-based First Place Financial Corp. (Nasdaq: FPFC). Under the terms of the deal, Camco shareholders will get either $13.58 in cash or 0.97 shares of First Place common stock for each share of Camco common stock. The estimated value of the deal is $97.2 million, which uses a $14 market price for First Place common stock.
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