PCSB Financial jumps on $313 mln merger deal with Brookline Bancorp

Brookline Bancorp

24/05/2022 14:11

** Regional bank's  PCSB.O  shares jump ~15.4% to $21 in
light premarket volumes after merger news
    ** Stock will its best day, if premarket gains hold
    ** Brookline Bancorp  BRKL.O  to acquire PCSB and its wholly
owned subsidiary, PCSB Bank, for about $313 million in cash and
stock, companies say  urn:newsml:reuters.com:*:nFWN2XG0HO
    ** After the deal closes, PCSB Bank will operate as a
subsidiary of BRKL - cos
    ** Shares in BRKL up marginally at $14.99 before the bell 
    ** BRKL sees deal adding ~13% to its earnings per share 
    ** Cos expect transaction to be completed in the second half
of 2022 
    ** As of last close, BRKL and PCSB down 7.6% and 4.41%
respectively, YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))