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BRIEF-Customers Bancorp says has received two unsolicited all-cash proposals over past few weeks
May 31, 2017 / 4:34 PM / 4 months ago

BRIEF-Customers Bancorp says has received two unsolicited all-cash proposals over past few weeks

May 31 (Reuters) - Customers Bancorp Inc:

* Says over past few weeks, Customers has also received two unsolicited all-cash proposals

* Board believes new proposals could be considered superior to Flagship proposal

* “Now considering restructuring” BankMobile transaction “as a tax free spin-off of BankMobile to Customers Bancorp shareholders”

* Restructuring of transaction “would be followed by an all-stock acquisition of BankMobile by a well capitalized Flagship Community Bank”

* Flagship Community Bank was unable to raise all required capital needed to complete acquisition that was agreed with co in mid-Feb Source text: (bit.ly/2qG3byi) Further company coverage:

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