Banc of California And PacWest To Combine In All-Stock Merger Transaction; PacWest Shareholders To Receive 0.6569 Shares Of Banc of California Common Stock Per PacWest Share
Portfolio Pulse from Benzinga Newsdesk
Banc of California (BANC) and PacWest Bancorp (PACW) have announced an all-stock merger transaction. Under the terms of the deal, PacWest shareholders will receive 0.6569 shares of Banc of California common stock for each PacWest share they own.
July 25, 2023 | 8:07 pm
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NEUTRAL IMPACT
PacWest Bancorp is being acquired by Banc of California in an all-stock deal. PacWest shareholders will receive 0.6569 shares of BANC for each PACW share they own, which could impact the value of PACW shares.
The impact on PACW shares will depend on the perceived value of the BANC shares they will receive in exchange. The market's reaction to the merger announcement will also play a role.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Banc of California is merging with PacWest Bancorp in an all-stock deal. This could potentially increase the value of BANC shares as they acquire new assets and customers from PacWest.
Mergers often lead to an increase in the value of the acquiring company's shares due to the acquisition of new assets and customers. However, the exact impact will depend on the market's reaction to the merger announcement.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100