Financial Advisor And Fairness Opinion
Rush-Oak Corporation
M&A Advisory
Has Merged With
Transaction Details
- On February 20, 2019 — Rosemont, IL-based Wintrust Financial Corporation (“Wintrust”) (NASDAQ: WTFC) announced the signing of a definitive agreement to acquire Rush-Oak Corporation (“ROC”)
- Subject to possible adjustment, the aggregate purchase price to ROC shareholders is currently estimated to be approximately $46 million. Shares of ROC common stock outstanding at the time of the merger will be converted into the right to receive per share merger consideration to be paid in cash
- The merger agreement also provides that, prior to closing, the shares of Oak Bank held directly by individual minority shareholders will be redeemed for cash by ROC for an aggregate redemption value of approximately $9 million, leaving Oak Bank as a wholly-owned subsidiary of ROC
- The transaction provides Wintrust with the opportunity to expand its market presence in the heart of the City of Chicago
- The merger is expected to be completed in 2Q’19(1)
Sources: Company filings and S&P Global Market Intelligence.
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(1) Subject to approval by bank regulatory authorities and the shareholders of Rush-Oak Corporation.
(2) Rush-Oak Corporation highlights based on bank-level data as of December 31, 2018.
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