Reuters logo
BRIEF-PacWest Bancorp, CU Bancorp agree to merge for about $705 mln
April 6, 2017 / 10:50 AM / 6 months ago

BRIEF-PacWest Bancorp, CU Bancorp agree to merge for about $705 mln

April 6 (Reuters) - PacWest Bancorp:

* PacWest Bancorp and CU Bancorp agree to merge

* PacWest Bancorp - transaction valued at approximately $705 million

* PacWest Bancorp - transaction was approved by PacWest and CU Bancorp boards of directors

* PacWest Bancorp - CU Bancorp shareholders will receive 0.5308 shares of PacWest common stock and $12.00 in cash for each share of CU Bancorp

* PacWest Bancorp - total value of merger consideration is $39.45 per CU Bancorp share

* PacWest Bancorp - total value of merger consideration is $39.45 per CU Bancorp share

* PacWest Bancorp - in connection with transaction, California united bank will be merged into pacific western bank Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below