WesBanco to merge with Your Community Bankshares in $221m dealStaff writer ▼ | May 4, 2016
WesBanco and Your Community Bankshares announced that they have executed a plan for the merger of Your Community with and into WesBanco.
Merger $7.70 per share for each share of Your Community common stock
Your Community shareholders will be entitled to receive 0.964 of a share of WesBanco common stock and cash in the amount of $7.70 per share for each share of Your Community common stock for a total value of approximately $39.05 per share or $221 million in aggregate based on WesBanco's market close price of $32.52 on May 2, 2016.
The exchange ratio is based on the average closing prices of WesBanco common stock of $31.96 over the 10 day period ending on April 27, 2016. The merger is expected to qualify as a tax-free reorganization.
The transaction values Your Community at a price to March 31, 2016 tangible book value per share of 173%, a price to LTM earnings per share of 14.5 times, and a price to mean analyst estimated 2016 earnings per share of 13.7 times. ■