MergerJun 11, 2026, 05:07 PM
Columbia Financial sets July 10 deadline for Northfield merger election
AI Summary
Columbia Financial, Inc. and Northfield Bancorp, Inc. jointly announced that Columbia has provided election materials to Northfield common stockholders. Stockholders can elect to receive shares of the newly formed Holding Company, cash, or a combination upon the completion of the previously announced merger. The deadline for submitting election forms is July 10, 2026. The merger consideration varies based on the Appraised Full Conversion Value, with the current value of $2.291 billion placing it in the 1.425 shares or $14.25 cash per share tier.
Key Highlights
- Northfield stockholders must elect merger consideration by July 10, 2026, 5:00 p.m. ET.
- Stockholders can choose shares of Columbia Financial Holding Company, cash, or a combination.
- If Appraised Full Conversion Value (AFCV) is less than $2.3B, consideration is 1.425 shares or $14.25 cash per share.
- Current AFCV is $2.291 billion, placing it in the lowest consideration tier.
- No more than 30% of Northfield shares will be converted into aggregate cash consideration.
- Fractional shares will be paid in cash based on the Per Share Cash Consideration.
- Northfield stockholders' special meeting to approve the merger is scheduled for June 26, 2026.
Price Impact
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