Pacific Premier's $1 bln all-stock offer for Opus Bank brings both down

Pacific Premier Bancorp

03/02/2020 16:29

** U.S. lender Opus Bank's shares  OPB.O  fall ~6% after
regional bank Pacific Premier's  PPBI.N  $1 bln all-stock
acquisition offer; stock set for its worst day since Oct. 2018
    ** PPBI too down ~6% at over 9-month low of $27.65; stock
set for its worst day in 6 months, if current losses hold
    ** Opus shareholders to receive 0.9 shares of Pacific
Premier, or $26.82, for each share held, based on Pacific's
Friday closing, representing a premium of 0.7% to Opus' last
close  urn:newsml:reuters.com:*:nL4N2A331A
    ** In 2019, PPBI was up ~28%, OPB up ~32%

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))