Valley National Bancorp Receives Approval for the Acquisition of Oritani Financial Corp. From the Office of the Comptroller of the Currency
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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Source: GlobeNewswire
NEW YORK, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”) announced today it received regulatory approval from The Office of the Comptroller of the Currency (“OCC”) to complete the previously announced merger of Oritani Financial Corp. (“Oritani”) (NASDAQ: ORIT) with and into Valley. The companies entered into a merger agreement in which the common shareholders of Oritani will receive 1.60 shares of Valley common stock for each Oritani share they own. The transaction was valued at an estimated $740 million, based on Valley's closing stock price on June 25, 2019. The acquisition represents a significant addition to Valley's New Jersey franchise, and will meaningfully enhance its presence in the densely populated and affluent Bergen County market. The acquisition will also bolster capital, providing greater balance sheet optionality and the acceleration of previously disclosed strategic initiatives. The combined company at close is expected to have
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Sec Filings
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- 4/5/24 - Form ARS
- VLY's page on the SEC website