Common Contracts
1 similar Merger Agreement contracts
LETTER OF ELECTION AND TRANSMITTALMerger Agreement • July 7th, 2015
LNB Bancorp, Inc. (“LNB Bancorp”) entered into an Agreement and Plan of Merger, dated as of December 15, 2014 (the “Merger Agreement”), with Northwest Bancshares, Inc. (“Northwest Bancshares”), which provides for the merger of LNB Bancorp with and into Northwest Bancshares, with Northwest Bancshares as the surviving entity (the “Merger”). This Letter of Election and Transmittal is being sent to LNB Bancorp shareholders in accordance with the Merger Agreement for the purpose of providing LNB Bancorp shareholders with the opportunity to elect the form of, and to receive, their aggregate Merger Consideration (as hereinafter defined). Pursuant to the Merger Agreement, shareholders of LNB Bancorp may elect to receive cash, shares of Northwest Bancshares common stock, or a combination of both in exchange for their shares of LNB Bancorp common stock upon consummation of the Merger. The election is subject to allocation procedures intended to ensure that 50% of the total number of shares of LN
