LIBERTY FINANCIAL ANNOUNCES MERGER WITH EQUIMARK Liberty Financial Group Inc, the parent of Liberty Savings Bank said it has signed a definitive agreement to be acquired by Equimark Corp <EQK>, the parent of Equibank, for 48 dlrs a share of Liberty. The transaction is structured as a merger of Liberty with a duly-formed unit of Equimark, the company said. Liberty shareholders will receive about 48 dlrs per share uopn the merger, the company said. According to the companies, the acquisition is contingent upon the approval of Liberty's shareholders and the appropriate regulatory authorities. Liberty said the acquisition of its unit, Liberty Savings Bank, by Equimark Corp, will result in the bank operating as a separate wholly owned unit of Equimark. Charles Cheleden, chairman and president of Liberty Financial and Liberty Savings, will continue as president and chief executive officer of Liberty Savings, headquartered in Horsham, Pa., the company said. Liberty said it feels that the price of 48 dlrs in cash per share is attractive and that it has advised by Shearson Lehman Brothers that the price is fair.