Added to YB: 2025-01-02
Pitch date: 2025-01-01
HLAN [bullish]
Heartland BancCorp
+6.24%
current return
Author Info
No bio for this author
Company Info
As of February 1, 2025, Heartland BancCorp was acquired by German American Bancorp, Inc. Heartland BancCorp operates as the bank holding company for Heartland Bank that provides various banking and financial services to individual and corporate customers.
Market Cap
$326.0M
Pitch Price
$150.60
Price Target
217.00 (+36%)
Dividend
N/A
EV/EBITDA
N/A
P/E
16.45
EV/Sales
N/A
Sector
Banks
Category
special_situation
HLAN: Arbitrage Opportunity with German American Bank Acquisition
HLAN: High conviction merger arb with 20-38% IRR. Heartland acquired by German American Bank. Each HLAN share converts to 3.9 GABC. Buy 1 HLAN, short 3.9 GABC to lock in spread. Expected close in 4-5 weeks. Annualized return 20-38%.
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