Hanmi Financial Proposes to Combine With BBCN Bancorp

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Go back to Hanmi Financial Proposes to Combine With BBCN Bancorp

Hanmi Financial (HAFC) Proposes Merger with BBCN Bancorp (BBCN)

November 23, 2015 4:02 PM EST

Hanmi Financial (NASDAQ: HAFC) announced that it has proposed to combine with BBCN Bancorp, Inc. (NASDAQ: BBCN) ("BBCN") in an all-stock transaction at an implied purchase price of $19.98 per BBCN share based on Hanmi's November 20, 2015 closing price.

Under the terms of the proposal, Hanmi and BBCN would combine in a 100% stock merger in which BBCN stockholders would receive 0.7331 of a share of Hanmi common stock for each share of BBCN common stock. The proposal represents a 15.3% premium to BBCN's volume weighted average price from October 21, 2015 to November 20, 2015. Hanmi... More