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New York-based Shinhan Bank America ($618.9 million) has agreed to acquire Alpharetta, Ga.-based North Atlanta National Bank ($139.5 million) for approximately $29.0 million, or $23.44 per share, the companies announced June 29.
Under the terms of the merger, Shinhan will pay an aggregate $27.0 million in cash at the time of closing to North Atlanta shareholders, stock option holders, warrant holders and holders of North Atlanta's convertible subordinated debentures.
