Financial M&A » By The Online Investor Staff, updated Mon., Dec. 6, 1:41 PM
Recent mergers and acquisitions in the Financial M&A category.
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Slide #9. Valley National Bancorp — 1st United Bancorp, Inc.
Acquirer:
Valley National Bancorp (VLY)
Acquiree:
1st United Bancorp, Inc. (FUBC)
Details:
The Boards of Directors of Valley National Bancorp ("Valley") (NYSE: VLY) and 1st United Bancorp, Inc. ("1st United") (Nasdaq: FUBC) announced today that the companies have entered into a merger agreement whereby the common shareholders of 1st United will receive 0.89 of a share of Valley common stock for each 1st United share they own, subject to adjustment in the event Valley's average stock price falls below $8.09 or rises above $12.13 prior to closing. The transaction is valued at an estimated $312 million, based on Valley's closing stock price on May 5, 2014 (and includes the cash consideration that will be paid to 1st United stock option holders).
Valley National Bancorp is a bank holding company. Through its principal subsidiary, Valley National Bank (the Bank), Co. provides a suite of banking solutions through various commercial, retail, insurance and wealth management financial services products. The Bank provides a variety of banking services including automated teller machines, telephone and internet banking, remote deposit capture, overdraft facilities, drive-in and night deposit services, and safe deposit facilities. In addition, certain international banking services are available to customers including standby letters of credit, documentary letters of credit and related products, and certain ancillary services.
VLY SEC Filing Email Alerts Service
Open the VLY Page at The Online Investor » Valley National Bancorp is a bank holding company. Through its principal subsidiary, Valley National Bank (the Bank), Co. provides a suite of banking solutions through various commercial, retail, insurance and wealth management financial services products. The Bank provides a variety of banking services including automated teller machines, telephone and internet banking, remote deposit capture, overdraft facilities, drive-in and night deposit services, and safe deposit facilities. In addition, certain international banking services are available to customers including standby letters of credit, documentary letters of credit and related products, and certain ancillary services.
VLY SEC Filing Email Alerts Service
Open the FUBC Page at The Online Investor »
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