Alliance Financial (ALNC +16.5%) jumps to an all-time high after agreeing to a takeover by NBT Bancorp (NBTB -3%) in a deal valued at ~$233M that combines two upstate New York lenders. ALNC shareholders will receive 2.1779 shares of NBT common stock, or ~$48.24/share based on Friday's close, a 22% premium.
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