M&A · Financials · State Commercial Banks
Columbia Banking System, Inc. to acquire Bank of Commerce Holdings
Announced Jun 25, 2021 · Closed Sep 30, 2021
Deal value$266M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Columbia Banking System, Inc. (COLB)
- Target
- Bank of Commerce Holdings
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Sep 30, 2021
Deal protections
- Break fee (target pays)
- $12.0M · 4.5%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Raymond James
Sector context · Financials
- Comparable deals
- 35 in the prior 24 months
- Premium
- Sector median 45.7%
- EV / Adj. EBITDA
- Sector median 21.7x
- Break fee
- 4.5% vs. 3.7% sector median
Timeline
- AnnouncedJun 25, 2021
- Proxy filedAug 17, 2021
- Definitive proxyAug 17, 2021
- Shareholder voteSep 21, 2021
- ClosedSep 30, 2021