Quantcast

Carolina Trust BancShares Completes Acquisition of Clover Community Bankshares


Shutterstock photo

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





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




More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities












Research Brokers before you trade

Want to trade FX?