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Greensburg, Ind.-based MainSource Financial Group Inc. ($2.54 billion) agreed on Feb. 26 to acquire Louisville, Ky.-based 1st Independence Financial Group Inc. ($340.8 million) in a deal valued by SNL Financial at approximately $36.0 million.
MainSource Financial will pay $5.475 in cash and issue 0.881036 of a share of its own common stock for each share of 1st Independence stock. Based on MainSource Financial's closing price of $14.15 on Feb. 25 and 1st Independence's capital structure as of Feb. 26, which included 1,995,774 common shares outstanding and 64,300 options with a...