PacWest Surged Over 36% in Premarket Trading After the Rescue Merger With Banc of California

Tiger Newspress2023-07-26

PacWest surged over 36% in premarket trading after the rescue merger with Banc of California.

It had agreed to be acquired by Banc of California Inc. in an all-stock merger backed by two private-equity firms. The deal values PacWest at $9.60 a share, a premium over its closing price of $7.67 a share on Tuesday.

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