BankUnited/Herald National Bank
On June 2, 2011, BankUnited (NYSE: BKU) entered an agreement to acquire Herald National Bank (NYSE: HNB) for $4.13 per share.
The deal is made up of $1.35 per share in cash and 0.099 common shares of BankUnited, or a total of $22.9 million in cash and 1.7 million shares of BankUnited common stock.
Closing is expected in Q411.
BKU was advised by the law firm of Skadden, Arps, Slate, Meagher & Flom LLP. HNB was advised by and received a fairness opinion from Sandler O’Neill + Partners, L.P. and was advised by the law firm of Luse Gorman Pomerenk & Schick, P.C.
The deal is made up of $1.35 per share in cash and 0.099 common shares of BankUnited, or a total of $22.9 million in cash and 1.7 million shares of BankUnited common stock.
Closing is expected in Q411.
BKU was advised by the law firm of Skadden, Arps, Slate, Meagher & Flom LLP. HNB was advised by and received a fairness opinion from Sandler O’Neill + Partners, L.P. and was advised by the law firm of Luse Gorman Pomerenk & Schick, P.C.
