M&A: FIRST OF LONG ISLAND CORP

Form Type: DEFM14A

Filing Date: 2024-12-31

Corporate Action: Merger

Type: New

Accession Number: 000110465924132717

Comments: The First of Long Island Corporation (FLIC) and ConnectOne Bancorp, Inc. have proposed a merger in which FLIC will merge into ConnectOne, with ConnectOne as the surviving entity. Under the merger agreement dated September 4, 2024, FLIC shareholders will receive 0.5175 shares of ConnectOne common stock for each share of FLIC common stock they own on the merger's effective date. Additionally, FLIC shareholders will receive cash for any fractional shares due to the merger. The anticipated share conversion implies a value of approximately $12.03 based on recent trading prices. Special meetings for shareholders of both companies are planned for February 14, 2025, to vote on the merger agreement and related proposals. Both boards of directors recommend approval of the merger, emphasizing the strategic advantages for the combined entities.

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