Viasystems Group (NASDAQ : VIAS) will takeover DDi Corp (NASDAQ : DDIC) for $13 per share in cash.

Both the companies  announced that they have entered into a merger agreement, in which the value of entire transaction is around $282 million, or  $268 million net of DDi’s cash plus debt assumed. As per last year's results, for both the companies, on a proforma basis, the combined operation was around $1,320 million of revenue.

 VIAS anticipates the transaction to be straight away added to Adjusted EPS, even without the outcome of expected cost synergies, which VIAS expects to be around $10 million every year, prior to income tax effects, and realizable within 6 months after closing.

You can read more on Financial and Business Updates from our Experts:- Mergers and Acquisitions

Original Source: Viasystems Group

International Bank of Chicago has completed the acquisition of certain assets and liabilities and the banking operations of Premier Bank. The deal was closed in a FDIC-assisted transaction. Premier Bank, which presently operates two locations in Illinois, had nearly $269 million in total assets and $199 million in total deposits as of December 31. 

This is the second deal for the buyer, which previously bought the Des Plaines-based All American Bank in October 2011. On the transaction, John F Purtill from Meltzer, Purtill & Stelle Inc was the buyer's legal advisor, while Eugene B Katz from Hovde Financial Inc was the financial advisor. 
You can read more on Financial and Business Updates from our Experts:- Mergers and Acquisitions

Original Source: Premier Bank