M&A · Financials · State Commercial Banks
Glacier Bancorp, Inc. to acquire Altabancorp
Announced May 19, 2021 · Closed Oct 1, 2021
Deal value$931M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Glacier Bancorp, Inc. (GBCI)
- Target
- Altabancorp
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Oct 1, 2021
Deal protections
- Break fee (target pays)
- $35.0M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Stifel
Sector context · Financials
- Comparable deals
- 27 in the prior 24 months
- Premium
- Sector median 45.7%
- EV / Adj. EBITDA
- Sector median 21.6x
- Break fee
- 3.8% vs. 3.7% sector median
Timeline
- AnnouncedMay 19, 2021
- Proxy filedJul 21, 2021
- Definitive proxyJul 21, 2021
- Shareholder voteAug 31, 2021
- ClosedOct 1, 2021
Valuation · fairness opinions
Discounted cash flow$40.70$55.69
Implied value per Altabancorp share by analysis, from Stifel · DCF discount rate 11%–15%.