M&A · Financials · State Commercial Banks
Oceanfirst Financial Corp to acquire Partners Bancorp
Announced Nov 4, 2021 · Terminated
Deal value$186M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock$10.38 per share
Transaction
- Acquirer
- Oceanfirst Financial Corp (OCFC)
- Target
- Partners Bancorp
- Buyer type
- Strategic
- Offer price per share
- $10.38
- Enterprise value
- —
- Status
- Terminated
Deal protections
- Break fee (target pays)
- $7.4M · 4.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Raymond James
- To the target
- Piper Sandler
Sector context · Financials
- Comparable deals
- 58 in the prior 24 months
- Premium
- Sector median 35.9%
- EV / Adj. EBITDA
- Sector median 21.6x
- Break fee
- 4.0% vs. 3.7% sector median
Timeline
- AnnouncedNov 4, 2021
- Proxy filedJan 18, 2022
- Definitive proxyJan 18, 2022
- Shareholder voteMar 9, 2022
- Terminated—