Wells Fargo & Co. to acquire Pacific Northwest Bancorp for 3.0 times revenue

From: Weekly Corporate Growth Report | Date: May 26, 2003| Author: | Copyright information

The Deal: Wells Fargo & Co. has signed a definitive agreement to acquire Pacific Northwest Bancorp in a stock transaction. Pacific Northwest shareholders will receive $35 in Wells Fargo common stock for each share of Pacific Northwest. The exact exchange ratio will be determined by the average closing prices of Wells Fargo shares for the 20 consecutive trading days prior to the close of the deal. The transaction has been approved by the boards of both companies, but still requires approval from regulators and Pacific Northwest shareholders. The deal is expected to close during the third ...

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