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Hmn Financial (HMNF) has shared an announcement.
HMN Financial, Inc. (HMNF) has agreed to merge with Alerus Financial Corporation, with Alerus as the surviving entity. HMNF stockholders will receive 1.25 Alerus shares for each HMNF share they hold, equating to an approximate value of $25.86 per HMNF share and a total deal value of around $116.4 million. The merger, expected to close in Q4 2024, is subject to customary conditions and approvals. HMNF’s banking subsidiary will also merge into Alerus’s banking subsidiary, transforming HMNF’s branches into Alerus branches.
Find detailed analytics on HMNF stock on TipRanks’ Stock Analysis page.