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Somerset Hills Bancorp (NASDAQ:SOMH): Closing price $11.60
Somerset Hills Bancorp will be merged with and into Lakeland Bancorp (NASDAQ:LBAI), with Lakeland Bancorp as the surviving bank holding firm. Shareholders of Somerset Hills Bancorp will receive, if they wish, for each outstanding share of common stock that they hold at the effective time of the merger, either 1.1962 shares of Lakeland Bancorp common stock or $12 in cash, so that 90 percent of the aggregate merger consideration will be shares of Lakeland Bancorp common stock and 10 percent will be cash. Shares closed up 27.05 percent on the day at at $11.60, having been traded in a 52-week range of $7.71 to $9.29.
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