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Started By
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PACW halted at 9.44 amid buyout/merge rumor.
Posted on 7/25/23 at 1:45 pm
Posted on 7/25/23 at 1:45 pm
price dropped like a rock.
Offer must be below current price
Offer must be below current price
This post was edited on 7/25/23 at 1:51 pm
2
Posted on 7/25/23 at 1:49 pm to LeeVanCleef
Halted again at 7.67
This post was edited on 7/25/23 at 1:59 pm
Posted on 7/25/23 at 2:17 pm to LeeVanCleef
Is this the next bank to fail?
Everybody knew it wasn’t going to stop at just three, right? There had to be a couple more before we hit solid ground.
Everybody knew it wasn’t going to stop at just three, right? There had to be a couple more before we hit solid ground.
Posted on 7/25/23 at 2:36 pm to TDFreak
They are being bought out, apparently at a much lower price.
Stock down 27 percent today.
I bet some people with that they had locked in some gains yesterday.
Stock down 27 percent today.
I bet some people with that they had locked in some gains yesterday.
Posted on 7/25/23 at 2:42 pm to LeeVanCleef
Did they open it back up? I'm seeing it still dropping. Currently at $7.50
Posted on 7/25/23 at 2:53 pm to saint tiger225
quote:
Did they open it back up? I'm seeing it still dropping. Currently at $7.50
yeah, 7.68 now.
and PACW earnings after the close
Posted on 7/25/23 at 5:05 pm to LeeVanCleef
Trading at 10.77 right now in AH.
Posted on 7/25/23 at 5:11 pm to Jag_Warrior
I see AW numbers are slightly higher than what it was at prior to tanking later today.
I'm having trouble finding the buyout price, safe to assume it's around current AH trading number?
I'm having trouble finding the buyout price, safe to assume it's around current AH trading number?
Posted on 7/26/23 at 6:25 am to LeeVanCleef
I just saw they announced a merger with Banc of California yesterday.
Banc of California and PacWest to merge, raise $400 million in equity
Banc of California and PacWest to merge, raise $400 million in equity
quote:
Banc of California (NYSE:BANC) and PacWest Bancorp will merge in an all-stock deal to create a bank with $36 billion in assets, the companies said on Tuesday, coming together just months after the regional banking sector was mired in crisis.
To help fund the combination, the lenders have also agreed to sell $400 million of new shares to private equity firms Warburg Pincus and Centerbridge Partners.
The combined bank will have $25.3 billion in total loans and more than 70 branches in California. It will be based in Los Angeles and led by Banc of California CEO Jared Wolff.
Posted on 7/26/23 at 8:01 am to saint tiger225
I know a few guys here (myself included) bought pacw during the regional selloff a few months back.
What's the play? Sell now and move on? Any reason to hold?
What's the play? Sell now and move on? Any reason to hold?
Posted on 7/26/23 at 11:17 am to 632627
Great question. I’m in at $6.94 so up 41% overall right now. Don’t need the cash so probably will just set a stop loss and roll with it a bit longer. I guess
Posted on 7/26/23 at 11:28 am to LeeVanCleef
Back up just below 10 now. Not too worried about it having only 100 shares. I have no clue whether I should stay or go.
Missed that play. PACWP has gone from $6.24 in the May trough to 20.72 now.
Missed that play. PACWP has gone from $6.24 in the May trough to 20.72 now.
This post was edited on 7/26/23 at 11:35 am
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