CaixaBank’s all-stock offer values Civica at 1.97 euros a share, or 0.35 times book value, the buyer said in a statement late yesterday. The transaction, in which Civica investors get five CaixaBank shares for every eight of their bank’s shares, is priced 11 percent below its March 23 closing price.
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CaixaBank Agrees to Buy Civica Amid Spanish Banking Overhaul
CaixaBank’s all-stock offer values Civica at 1.97 euros a share, or 0.35 times book value, the buyer said in a statement late yesterday. The transaction, in which Civica investors get five CaixaBank shares for every eight of their bank’s shares, is priced 11 percent below its March 23 closing price.
