Upon completion of its merger next week, New Haven’s NewAlliance Bancshares Inc. will lose its place in the Standard & Poor’s MidCap 400 Index, Bloomberg News reports.
S&P says Oil States International Inc. in Houston will take NewAlliance’s place after the close of trading on April 14 because it is merging with First Niagara Financial Group of Buffalo, N.Y.
LivePerson Inc. will fill Oil States’ spot in the S&P SmallCap 600, S&P said in a statement.
Oil States, which is based in Houston, has a market value of $3.88 billion. Its shares have risen 66 percent in the past year, compared with a 63 percent gain for an index of energy companies in the S&P SmallCap 600.
