APPLETON, Wis. -- Valley Bancorp. said it is engaged in talks which could result in a "significant business combination transaction."

The company said it made the announcement because of concern over the recent market activity in its stock.

Valley said it does not plan to make further announcements concerning negotiations until either a definitive agreement has been reached or negotiations have terminated.

Valley, which has $4.3 billion of asset, has 16 bank subsidiaries.

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