Short MTB ~170 shares for every 1000 of PBKS
Cash Transaction close by end of May
M&T Banks is one of the solid banks in America. One of its investors is Warren Buffet. M&T has a strong presence in the northeast region of America. Their headquarters is in Buffalo, with operations from there down to Baltimore.
PBKS is a Baltimore-area bank. MTB has already outline plans to integrate PBKS which include laying off employees, providing a severance package, and giving preference to laid off employees to apply for job openings at MTB.
This transaction is actually less complex than the FMCN transaction, since PBKS is a relatively small acquisition. Shareholders have already aproved the deal and all that remains is regulatory approval which should be a cinch.
The net trade should yield you an 4%+ return in about 2 months!
Take a look at my blog at www.violentcapitalist.com on how you can extend the value of this trade to 8.6%!
Disclaimer: I have an interest in PBKS