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Allied Banking Corporation (ABC) approves the amendments to the Plan of Merger with PNB

During the Allied Banking Corporation (ABC) Special Stockholders' Meeting today, March 6, 2012, the Stockholders of the Bank approved the amendments to the Plan of Merger between Philippine National Bank (PNB) and Allied Banking Corporation (ABC), which are as follows:
  1. The Exchange Ratio between PNB and ABC which is 130 PNB Common Shares for each issued ABC Common Shares and 22.763 PNB Common Shares for each ABC Preferred Share;
  2. The PNB Common Shares to be issued pursuant to the merger will be at a price of Seventy Pesos (PhP70) per share;
  3. The Effective Date of the Merger was set to be on the first day of the month following the issuance by the Securities and Exchange Commission (SEC) of the Certificate of Merger.
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"Allied Banking Corporation (ABC) approves the amendments to the Plan of Merger with PNB" was written by Mary under the Banking category. It has been read 2129 times and generated 0 comments. The article was created on and updated on 06 March 2012.
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