Liberty Bell Bank (fka LBBB)

[norweger1979]

LBBB $1.65

merger terms
Under the Agreement, each Liberty shareholder will be entitled to elect to receive either 0.2857 shares of Delmar common stock, or $1.70 in cash, for each share of Liberty common stock they own, provided that in the aggregate 70% of the shares of Liberty common stock must be converted into Delmar common stock and 30% of the shares of Liberty common stock must be converted into cash.

currently DBCP trades at $7.00 Bid

$7 x 0.2857 = $1.9999

vs.

$1.70 Cash offer

clearly the market pricing currently favors stock exchange