** Shares of regional lender Old National Bancorp ONB.O jump as much as 9.7%; last up 7.6% at $23.30
** Stock trading at its highest since September 2008
** ONB will buy privately held Minnesota-based Bremer Financial in a $1.4 bln cash-and-stock deal, the companies say
** Deal creates a combined Midwest-focused bank with $70 bln in assets and bolsters ONB's presence in Minnesota, North Dakota and Wisconsin
** Bremer shareholders will receive 4.182 shares of ONB and $26.22 in cash, valuing the lender at $116.76/shr
** Piper Sandler says the deal greatly improves ONB's Minneapolis–Saint Paul footprint and provides cost savings opportunities
** Financials look compelling for ONB shareholders, Piper Sandler says
** As of last close, ONB shares up 28.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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