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Investor Relation - Mergers & Acquisitions

Investor Relation

Mergers & Acquisitions

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Deal Overview

Buyer:
WesBanco, Inc.
Actual Acquirer:
WesBanco Bank Inc.
Target:
Freedom Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
11/24/2000
Announcement Date:
11/24/2000
Announced Deal Value ($ M):
11.00
Status:
Terminated
Completion Date:
9/17/2001
Announced Deal Value Per Share ($ )
58.05

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 146.2 NA
Price / Tangible Book (%) 146.8 NA
Price / Earnings (x) 18.6 NA
Price / Deposits (%) 12.34 NA
Price / Assets (%) 11.31 NA
Tangible Book Premium/ Deposits (%) 4.32 NA
Deal Terms
Description of Consideration

WesBanco would have exchanged 2.58 common shares for each Freedom common share. Seller's financials are for Belington Bank.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 3,255
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
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 Yes
Strike Price ($ ) 40.4700
% of Shares Outstanding 19.90
Shares Under Option 37,810
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Phillips Gardill Kaiser
Seller Yes McNeer Highland McMunn

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