Merger

ChoiceOne Financial Services (COFS) reported its Q2 2025 financial results following its merger with Fentura Financial on March 1, 2025. The merger added approximately $1.8 billion in assets. Q2 net income was $13.53 million, up from $6.59 million year-over-year, while the six-month period resulted in a net loss largely due to merger-related expenses. GAAP net interest margin increased to 3.66%. Core loans grew organically by 10.0% over the past year. Assets reached $4.3 billion.

Waters Corporation and BD (Becton, Dickinson and Company) have announced a definitive agreement to merge BD’s Biosciences & Diagnostic Solutions business with Waters, creating a leading life science and diagnostics company. The deal, valued at $17.5 billion structured as a Reverse Morris Trust, is expected to double Waters’ addressable market to $40 billion and generate $345 million in annualized EBITDA synergies by 2030.The combined company anticipates approximately $6.5 billion in 2025 sales and mid-teens adjusted EPS growth over five years, with the transaction boosting adjusted EPS within the first year.

SunLink Health Systems received a deficiency letter from NYSE American for failing to hold its annual stockholder meeting. While its stock will continue trading, it will be flagged with a “.BC” indicator. This issue is unlikely to affect SunLink’s proposed merger with Regional Health Properties, scheduled for a shareholder vote soon. SunLink must hold its annual meeting by June 30, 2026, to regain full compliance if the merger is terminated.

On June 23, 2025, Dr Ashleys Limited and Impact BioMedical Inc. announced a merger deal. Dr. Ashleys will acquire Impact BioMedical through a reverse merger, creating a new entity listed on the NYSE American. This strategic alliance merges Impact BioMedical’s innovative patents with Dr Ashleys’ resources and global reach, aiming to expedite the development of impactful therapies and expand global market access for biomedical advancements.

Logan Ridge Finance Corporation (LRFC) announced the rescheduling of its special stockholder meeting regarding the proposed merger with Portman Ridge Finance Corporation (PTMN) to June 20, 2025. Early votes indicate strong support for the merger. Proxy advisors ISS and Glass Lewis recommend that LRFC shareholders vote “FOR” the deal. Shareholders can find instructions on how to vote in the amended joint proxy statement.