Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Target:
Oak Street Holdings Corporation
Deal Type:
Specialty Finance Company
Agreement Date:
7/23/2015
Announcement Date:
7/23/2015
Announced Deal Value ($ M):
110.00
Status:
Completed
Completion Date:
8/14/2015

Consideration Breakout
Cash ($M) 110.0

Deal Pricing Ratios

Announcement Completion
Price / Book (%) NA NA
Price / Earnings (x) NA NA
Price / Revenue (x) NA NA
Price / Net Receivables (%) 46.22 46.22
Price / Managed Receivables (%) 46.22 46.22
Deal Terms
Description of Consideration

First Financial Bancorp paid $110 million in cash to acquire Oak Street Holdings Corporation. In addition to this, First Financial Bancorp paid off $197.8 million of existing long-term debt on behalf of Oak Street Holdings.

Percent Acquired (%) 100.00
Purchase Method Acquisition
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 3,000
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes RBC Capital Markets LLC
Seller Yes Raymond James & Assoc. Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Frost Brown Todd LLC
Seller Yes Akin Gump Strauss Hauer & Feld