Fulton, Blue Foundry announce $243 mn all-stock merger agreement
Fulton Financial agreed to acquire Blue Foundry in a $243 million all-stock deal, exchanging each Blue Foundry share for 0.6500 Fulton shares. Based on Fulton's November 21 price, the offer values Blue Foundry at $11.67 per share. Fulton expects the merger to be over 5% accretive to first full-year earnings and immediately boost tangible book value.