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North Central Bancshares reveals special meeting date

North Central Bancshares has revealed the date of its special meeting.

27 April 2012

North Central Bancshares has announced that a special meeting with shareholders is to be held on May 23rd.

Negotiation techniques during this discussion will relate to the proposed merger agreement between the firm and Great Western Bancorporation.

This tie-up is scheduled to be completed during summer 2012, subject to various closing conditions being completed and the receipt of the approval of shareholders.

If the transaction goes ahead, Great Western will become North Central's only shareholder.

Furthermore, North Central has decided to postpone its yearly stockholder meeting, which was due to take place today (April 27th).

This decision was made as a result of the special meeting's timing.

On April 13th, North Central revealed the so-called "go shop" period had expired, noting no alternative acquisition proposals had been received by the firm during this timeframe.

This was despite solicitation efforts made by financial advisor Keefe, Bruyette & Woods, which had told other banks this period was underway, the enterprise revealed.

Posted by Ken Hayes

Source: North Central press release, April 24th

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