Triad Business Bank Reiterates Rival Offer for M&F Bancorp
Triad Business Bank reiterated its proposal opposing M&F Bancorp’s merger with Optus. The offer is $53.50 cash per share, capped at 25% elections, or 1.25 shares in a combined company.
Triad Business Bank opposed M&F Bancorp’s merger with Optus following M&F’s decision to adjourn its meeting. Triad reiterated its competing proposal: fixed cash of $53.50 per share, subject to a cap on 25% elections, or 1.25 shares in a combined company.