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PacWest Bancorp $705 million acquisition of CU Bancorp

6/4/2017
Public acquisition
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$ 705 million

Announced

6/4/2017

Overview:

  • PacWest Bancorp has acquired CU Bancorp in a $705 million deal.
  • Both banks are California-based.
  • CU Bancorp shareholders received .5308 shares of PacWest stock and $12 per CU Bancorp share.
  • Sandler O'Neil + Partners acted as financial adviser for PacWest and Keefe Bruyette & Woods acted for CU Bancorp.
  • The transaction is expected to close in the fourth quarter of 2017.

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sector:

Banking

Firms:
Manatt Phelps & Philips

Party: CU Bancorp (Target)

Lawyer: Craig Miller

Sullivan & Cromwell

Party: PacWest Bancorp (Acquirer)

Lawyers: Mark Menting, Patrick Brown

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