Smith Financial already owns 9.1% of Home Capital shares, and the deal values the remainder at $1.7B. hometrustco | realestate realestatenews finance
. The deal values the company at approximately $1.7B and stipulates that Smith Financial — the family holding company of First National Financial — will pay $44 in cash per share that it doesn’t already own. The company currently owns 9.1% of Home Capital shares.
“The Board, together with our financial and legal advisors, conducted a thorough review of the proposal from SFC and concluded that the Transaction is in the best interests of the Company and fair, from a financial point of view, to shareholders,” Alan Hibben, Chair of the Board of Directors of Home Capital, said in the press release. “We are pleased to have reached an agreement that provides shareholders with compelling and certain value in the form of an all-cash offer.
“Having followed the development of the business for three decades, I can attest to Home Capital’s strong partnerships with mortgage brokers and great customer relationships. I’m also impressed with the direction the Company has taken to build quality assets and enduring advantages in its chosen industry segments. I look forward to owning another business with a bright future.”
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Home Capital to be acquired by Smith Financial in $1.7-billion dealSmith Financial will pay $44 in cash per share of Home Capital. Find out more.
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Home Capital to be acquired by Smith Financial in $1.7-billion dealSmith Financial will pay $44 in cash per share of Home Capital. Find out more.
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Home Capital to be acquired by Smith Financial in $1.7-billion dealSmith Financial will pay $44 in cash per share of Home Capital. Find out more.
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