Return to Mergers & Acquisitions

Deal Overview

Buyer:
First Busey Corporation
Actual Acquirer:
First Busey Corporation
Target:
Eagle BancGroup, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
6/30/1999
Announcement Date:
6/30/1999
Announced Deal Value ($ M):
27.10
Status:
Completed
Completion Date:
10/29/1999
Announced Deal Value Per Share ($ )
25.74

Consideration Breakout
Cash ($M) 27.1

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 140.7 141.6
Price / Tangible Book (%) 140.7 141.6
Price / Earnings (x) 30.3 33.9
Price / Deposits (%) 19.77 20.42
Price / Assets (%) 14.81 15.24
Tangible Book Premium/ Deposits (%) 6.35 6.77
Deal Terms
Description of Consideration

Eagle BancGroup shareholders received $25.74 in cash for each common share held.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 800
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes KeyBanc Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Chapman & Cutler LLP
Seller Yes Schiff Hardin LLP