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WSBC - WesBanco Inc News Story

$30.5 1.2  4.1%

Last Trade - 5:34pm

Sector
Financials
Size
Mid Cap
Market Cap £1.48bn
Enterprise Value £1.75bn
Revenue £445.1m
Position in Universe 1926th / 6431

BUZZ-WesBanco drops on deal to buy Old Line Bancshares for $500 mln

Wed 24th July, 2019 3:26pm
** Shares of lender WesBanco Inc  WSBC.O  drop as much as
~9% TO at $34.26 - stock's lowest in about 7 months as it enters
agreement to buy smaller rival Old Line Bancshares  OLBK.O  in a
$500 mln all-stock deal
    ** Old Line stockholders to get 0.7844 of WesBanco common
stock for each share they hold which translates to $29.22/share,
a 12% premium to OLBK's last close  urn:newsml:reuters.com:*:nPncbTvNqa
    ** Old Line Bancshares up as much as ~6% at $27.75 - its
highest in 3 months
    ** WSBC among worst performers on Nasdaq
    ** WSBC was valued at $2.06 bln up to Tuesday's close
    ** Despite the losses, WSBC stock up ~3% this year, while
OLBK stock up 4.3%

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com; +1 646 223 8780 ;))
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