Bremer Financial Corporation in its $1.4 billion merger with Old National Bancorp

On November 25, 2024, Bremer Financial Corporation and Old National Bancorp (NASDAQ: ONB) announced that they have entered into a definitive merger agreement pursuant to which Old National will acquire Bremer.  Under the terms of the merger agreement, each outstanding share of Bremer common stock will be converted into the right to receive 4.182 shares of Old National common stock plus $26.22 in cash, valuing the transaction at approximately $1.4 billion.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Bremer Financial Corporation.