HomeStreet slips after buyout deal with FirstSun Capital falls through

Mechanics Bancorp

19/11/2024 15:03

** Regional lender HomeStreet's  HMST.O  shares fall as much
as 5.1%, last down 1.9% at $10.88 in early trading
    ** Peers FirstSun Capital Bancorp  FSUN.O  and HMST have
mutually agreed to terminate their buyout deal, the companies
say
    ** FSUN shares up 1.4% at $36.90 in early trading
    ** In January, FSUN had agreed to buy HMST for $14.75/share,
which was revised to $13.53/share in May
    ** Deal failed to secure the necessary regulatory approvals,
the companies had said last month 
    ** As of last close, HMST shares up 7.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))