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Columbia Banking System Inc Announces Closing Of Acquisition Of West Coast Bancorp

Monday, 1 Apr 2013 09:15am EDT 

Columbia Banking System Inc announced the completion of acquisition of West Coast Bancorp, the parent company of West Coast Bank. Effective at the time of the merger, Columbia also appointed David A. Dietzler, a former director of West Coast, to serve on Columbia's Board and the Board of wholly owned subsidiary, Columbia State Bank. Pursuant to the terms of the merger agreement, dated September 25, 2012, former West Coast shareholders were entitled to receive merger consideration consisting of shares of Columbia common stock (Columbia Shares) only, cash only, or a unit consisting of a mix of Columbia Shares and cash, in each case with a value equal to approximately $24.11, depending on, and after giving effect to, the proration and allocation procedures set forth in the merger agreement. Keefe, Bruyette & Woods, Inc. acted as financial advisor and Graham & Dunn PC acted as legal counsel to Columbia. Sandler O'Neill + Partners, L.P. acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal counsel to West Coast. 

Company Quote

27 Jan 2015