Email page PDF view Print view Email Alert Social media sharing

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Univest Corporation of Pennsylvania
Actual Acquirer:
Univest Bank and Trust Co.
Target:
Fox Chase Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/8/2015
Announcement Date:
12/8/2015
Announced Deal Value ($ M):
247.74
Status:
Completed
Completion Date:
7/1/2016
Announced Deal Value Per Share ($ )
20.39

Consideration Breakout
Cash ($M) 98.9
Common Stock ($M) 144.4
Common Stock Issued 6,857,529

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 134.3 136.8
Price / Tangible Book (%) 134.3 136.8
Price / Earnings (x) 23.2 24.3
Price / Deposits (%) 34.52 30.82
Price / Assets (%) 22.55 22.22
Tangible Book Premium/ Deposits (%) 11.02 9.69
Deal Terms
Description of Consideration

Univest Corp. of Pennsylvania paid $21.0 per share in cash or exchanged 0.9731 shares of its common stock for each outstanding share of Fox Chase Bancorp Inc., subject to 60% of the consideration being paid in stock.

Accounting Method Acquisition
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 59,902
Estimated Cost Savings (%) 44.00
Estimated Cost Savings ($ 000) 10,200
Est. Restructuring Charges ($ 000) 20,000
Maximum Termination Fee ($ 000) 10,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.9731
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 5,268
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Griffin Financial Group LLC
Seller Yes Piper Jaffray & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Stevens & Lee PC
Seller Yes Luse Gorman PC
Copyright 2017, © S&P Global Market Intelligence  Terms of Use