Company: NWBI
Filing Date: 2025-02-20
Form Type: S-4/A
Source: 0001193125-25-030716
Chunk: 105

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-20
Form: S-4/A
Chunk 105
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 value of Northwest common stock drops below certain pre-determined thresholds while the Nasdaq Bank Index does not; subject, however, to Northwest’s right to cure by 
 providing notice to Penns Woods that Northwest intends to proceed with the Merger by paying additional consideration.                                                                                     |

Support Agreements Under the Merger Agreement, the directors of Penns Woods executed support agreements pursuant to which they agreed to vote their shares of Penns Woods common stock owned directly or indirectly, and to request their spouses to consent to such agreement to the extent of such spouse’s interest in such shares in favor of the Merger. Acquisition Proposals and Termination Fee Pursuant to the Merger Agreement, Penns Woods shall not, and shall cause any of its subsidiaries and the officers, directors, employees, advisors and other agents of Penns Woods and its subsidiaries not to, directly or indirectly (i) solicit, initiate, encourage, facilitate (including by way of providing information) or induce any inquiry, proposal or offer with respect to, or the making or completion of, any acquisition proposal, or any inquiry, proposal or offer that is reasonably likely to lead to any acquisition proposal, (ii) enter into, continue or otherwise participate in any discussions or negotiations regarding, or furnish to any person or group any confidential or nonpublic information with respect to or in connection with, an acquisition proposal, (iii) take any other action to facilitate any inquiries or the making of any proposal that constitutes or may reasonably be expected to lead to an acquisition proposal, (iv) approve, endorse or recommend, or propose to approve, endorse or recommend any acquisition proposal or any agreement related thereto, (v) enter into any agreement contemplating or otherwise relating to any acquisition transaction or acquisition proposal, (vi) enter into any agreement or agreement in principle requiring, directly or indirectly, Penns Woods to abandon, terminate or fail to consummate the transactions contemplated hereby or breach its obligations hereunder, or (vii) propose or agree to do any of the foregoing; unless the Penns Woods board of directors determines in good faith, after consultation with Penns Woods’ outside legal and financial advisors, that (a) such acquisition proposal constitutes or is reasonably capable of becoming a superior proposal, and (b) the failure of the Penns Woods board to take such action would cause the Penns Woods board to violate its fiduciary duties to the shareholders of Penns Woods under applicable law. As promptly as practicable (but in no event more than 24 hours) following receipt of