M&A · Financials · State Commercial Banks
Virginia National Bankshares Corp to acquire Fauquier Bankshares, Inc.
Announced Oct 1, 2020 · Closed Apr 1, 2021
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Virginia National Bankshares Corp (VABK)
- Target
- Fauquier Bankshares, Inc. (FBSS)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Apr 1, 2021
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Performance Trust
- To the target
- Piper Sandler
Classification
- Sector
- Financials
- Industry
- State Commercial Banks
Timeline
- AnnouncedOct 1, 2020
- Proxy filedFeb 9, 2021
- Definitive proxyFeb 9, 2021
- Shareholder voteMar 25, 2021
- ClosedApr 1, 2021
Valuation · fairness opinions
Trading comparables$9.83$19.82
Trading comparables$9.65$18.95
Trading comparables$15.99$31.00
Trading comparables$15.46$29.12
Implied value per Fauquier Bankshares, Inc. share by analysis, from Piper Sandler · DCF discount rate 9%–15%.