HomeStreet (HMST) and Mechanics Bank said Monday they have agreed to merge for an all-stock business combination.
Under the terms of the deal already approved by both companies' boards, HomeStreet is valued at $300 million and Mechanics Bank at $3.30 billion, the companies said, adding that deal completion is anticipated in Q3.
Mechanics Bank shareholders will receive HomeStreet common shares in exchange for Mechanics Bank stock owned, the companies said, adding that HomeStreet will be renamed Mechanics Bancorp upon deal closure and will remain a publicly traded company.
HomeStreet stockholders will likely own nearly 8.3% of the combined company, while legacy Mechanics Bank stockholders will hold the remainder, the companies said.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。