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First Empire to acquire ONBANCorp in stock and cash deal
First Empire will offer $69.50 per ONBANCorp share or a share of First Empire common stock for each ONBANCorp share. ONBANCorp shares rose while rumors of a takeover intensified as executives met at ONBANCorp headquarters. The deal, subject to regulator approval, will see Wilmers step down as chair of First Empire with Bennett taking the role, and Bennett becomes vice chairman of M&T Bank.
MENTIONED IN THIS ARTICLE
First Empire
Onean Cope
Onbancorp
Bennett
Salina Street
M&t
OnBank
Robert G. Wilmers
Syracuse
Witmers
Midlantic Corp
New Jersey
Merchants National Bank & Trust Co
Union National Bank
Albany
Onbankcorp
Timmons
Tunmons
OnBank 1S
Wilmers
M&t Bank
C&o