Brief: Pacific Premier To Acquire Opus Bank, Creating A $20 Bln Banking Franchise In Western U.S.

Pacific Premier Bancorp

03/02/2020 11:43

Feb 3 (Reuters) - Pacific Premier Bancorp Inc  PPBI.O :
    * PACIFIC PREMIER BANCORP, INC. TO ACQUIRE OPUS BANK,
CREATING A
$20 BILLION BANKING FRANCHISE IN THE WESTERN UNITED STATES
    * PACIFIC PREMIER BANCORP INC - ALL-STOCK TRANSACTION VALUED
AT
APPROXIMATELY $1.0 BILLION
    * PACIFIC PREMIER BANCORP INC - PACIFIC PREMIER EXPECTS
TRANSACTION TO BE 14% ACCRETIVE TO EPS IN 2021
    * PACIFIC PREMIER BANCORP INC - DEAL FOR $26.82 PER SHARE
    * PACIFIC PREMIER BANCORP INC - DEAL WAS APPROVED BY BOARD
OF
DIRECTORS OF BOTH COMPANIES
    * PACIFIC PREMIER - OPUS SHAREHOLDERS WILL HAVE RIGHT TO
RECEIVE
0.90 SHARES OF CO'S COMMON STOCK FOR EACH SHARE OF OPUS COMMON
STOCK THEY OWN
    * PACIFIC PREMIER BANCORP INC -  CO'S SHAREHOLDERS WILL OWN
ABOUT
63% OF SHARES OF COMBINED CO, OPUS SHAREHOLDERS ARE EXPECTED TO
OWN ABOUT 37%

Source text for Eikon:  ID:nBwb1P16Ma 
Further company coverage:  PPBI.O 

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