Yadkin Financial CorporationNYSE
Thu, Jul. 21, 10:54 AM
- The all-stock deal values Yadkin Financial (YDKN -3.3%) at $27.35 per share based on Wednesday's close, with owners receiving 2.16 shares of F.N.B. (FNB -8.6%) stock for each share of YDKN they hold.
- The purchase will give FNB another $7.5B in total assets, $5.3B in deposits, $5.4B in loans, and 100 branches in North and South Carolina. After the buy, FNB will have nearly $30B in assets, more than 400 full-service branches, and a presence across the Mid-Atlantic and the Southeast.
- The deal is expected to close in Q1 of 2017.
- A conference call to discuss is set for 2 ET.