More an acquisition of EPCIB by BDO than a true merger, the deal entails BDO offering 1.8 new shares for each EPCIB share, valuing the combined entity at almost $2 billion. BDO management will run the enlarged bank.
BDO looks like the real winner of the two. The deal is transformational for the bank, pushing it from sixth largest to a top three bank with combined assets of more than $12 billion and an increased branch network of almost 700.
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