MidWestOne Financial soars on $864 million buyout deal with Nicolet Bankshares

Nicolet Bankshares

24/10/2025 11:08

** Community lender MidWestOne Financial Group's MOFG.O shares jump 29.9% to $36.85 premarket

** Larger peer Nicolet Bankshares NIC.N will buy MOFG in an $864 million all-stock deal, the banks announced late on Thursday

** MOFG shareholders will receive 0.3175 share of NIC for each share of MidWestOne they own, valuing the bank at $41.37 apiece

** Per-share offer represents 45.8% premium to MOFG's last close; deal values MidWestOne at a price-to-tangible book value (TBV) per share of 166%

** TBV is a financial metric used to measure a company's net worth

** "We believe this deal checks several strategic boxes and brings rare attractive financial implications of 37% EPS accretion with only 1% TBV dilution," Piper Sandler says

** As of last close, MOFG shares down 2.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))