Brief: Enterprise Financial Services Corp To Acquire First Choice Bancorp

Enterprise Financial Services

26/04/2021 21:32

April 26 (Reuters) - Enterprise Financial Services Corp
 EFSC.O :
    * ENTERPRISE FINANCIAL SERVICES CORP TO ACQUIRE FIRST CHOICE
BANCORP
    * ENTERPRISE FINANCIAL SERVICES CORP - TRANSACTION VALUED AT
ABOUT
$397.7 MILLION, OR $33.40 PER FCBP SHARE
    * ENTERPRISE FINANCIAL - DEAL IS EXPECTED TO BE ABOUT 8%
ACCRETIVE
TO CO'S 2022 EPS AFTER GIVING EFFECT TO ESTIMATED FULLY
PHASED-IN DEAL SYNERGIES
    * ENTERPRISE FINANCIAL SERVICES - ACQUISITION IS EXPECTED TO
GENERATE AN INTERNAL RATE OF RETURN OF ABOUT 21% FOR ENTERPRISE
    * ENTERPRISE FINANCIAL SERVICES CORP - EXISTING ENTERPRISE
SHAREHOLDERS WILL OWN ABOUT 80% OF OUTSTANDING SHARES OF
COMBINED CO
    * ENTERPRISE FINANCIAL SERVICES - UPON CLOSING OF
TRANSACTION,
FCBP FOUNDER AND CHAIRMAN OF BOARD, PETER HUI, WILL JOIN
ENTERPRISE BOARD OF DIRECTORS

Source text for Eikon:  ID:nBw5WS1Fa 
Further company coverage:  EFSC.O 

 ((Reuters.Briefs@thomsonreuters.com;))