Carolina Trust BancShares Completes Acquisition of Clover Community Bankshares

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Carolina Trust BancShares, Inc. ( CART ) said late Wednesday it has completed its previously announced acquisition of Clover Community Bankshares, Inc., parent company of Clover Community Bank.

Under the merger deal, each share of Clover common stock and preferred stock was converted into the right to receive either 2.7181 shares of Carolina Trust common stock or $22.00 in cash, subject to customary proration procedures that will result in an aggregate 80% stock/20% cash consideration mix.

Carolina Trust also announced that the deadline for Clover shareholders to elect the form of merger consideration they wish to receive will be 5:00 pm ET on Feb. 15.

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This article appears in: Investing , ETFs
Referenced Symbols: CART

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