Business News • MarketWire • Kearny Financial Corp. and Central Jersey Bancorp Announce Execution of Merger Agreement |
Kearny Financial Corp. and Central Jersey Bancorp Announce Execution of Merger Agreement |
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Kearny Financial Corp. and Central Jersey Bancorp Announce Execution of Merger Agreement
FAIRFIELD, NJ and OAKHURST, NJ--(Marketwire - May 25, 2010) - Kearny Financial Corp. (NASDAQ: KRNY) ("Kearny"), the holding company for Kearny Federal Savings Bank, and Central Jersey Bancorp (NASDAQ: CJBK) ("Central Jersey"), the holding company for Central Jersey Bank, N. A., jointly announced the execution of a definitive merger agreement which provides for the acquisition of Central Jersey by Kearny in an all cash transaction valued at $7.50 per share and an aggregate deal value of approximately $72.3 million. The definitive merger agreement is subject to approval by Central Jersey's shareholders and applicable banking regulatory authorities. It is anticipated that the merger will close in the fourth calendar quarter of 2010. Kearny's management projects that the transaction will be $0.05 per share accretive to annual GAAP earnings per s
View More : http://www.marketwire.com/mw/release.do?id=1266293&sourceType=3
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