A New Jersey Thrift's Grand Plan

August 2011
Mergers & Acquisitions Report;8/22/2011, Vol. 24 Issue 34, p10
The article focuses on the plan of Short Hills, New Jersey-based Investors Bancorp Inc. to acquire Brooklyn Federal Bancorp Inc. in New York prior to its conversion to an all-stock company. The estimated value of the transaction is 10.3 million U.S. dollars. Kevin Cummings of Investors explains that they plan to acquire one or two more mutual holding company before the conversion. Analyst Matthew Kelley of Sterne Agee & Leach Inc. explains the benefit of the deal to Investors.


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