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BRIEF-CIBC, Privatebancorp announce revised merger agreement
2017年3月30日 / 下午1点32分 / 4 个月内

BRIEF-CIBC, Privatebancorp announce revised merger agreement

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March 30 (Reuters) - Privatebancorp Inc:

* Cibc and Privatebancorp announce revised merger agreement

* Privatebancorp Inc - stockholders will receive, upon completion of proposed merger with CIBC, US$24.20 in cash and 0.4176 of a CIBC common share

* Privatebancorp Inc - amended agreement values Privatebancorp at approximately 2.7 times tangible book value as of December 31, 2016

* Privatebancorp Inc - CIBC estimates that completion of transaction will contribute approximately US$340 million (c$450 million) of net income in fiscal 2020

* Privatebancorp Inc - board unanimously supports amended terms and continues to recommend that Privatebancorp stockholders approve transaction

* Privatebancorp Inc-CIBC estimates that completion of transaction wil become accretive to CIBC's earnings per share within three years of closing date

* Privatebancorp Inc - CIBC expects to maintain a "strong" common equity tier (cet) 1 ratio at closing above 10 per cent

* Privatebancorp Inc - amended agreement values privatebancorp at approximately US$4.9 billion Source text for Eikon: Further company coverage:

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