Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
US BANCORP DE completed an acquisition involving Mitsubishi UFJ Financial Group, Inc. for $5.5 billion in cash, subject to certain customary adjustments, and 44,374,155 shares of common stock of the Company (closed 2022-12-01).
- Action
- acquisition
- Counterparty
- Mitsubishi UFJ Financial Group, Inc.
- Consideration
- $5.5 billion in cash, subject to certain customary adjustments, and 44,374,155 shares of common stock of the Company
- Closing
- 2022-12-01
Exact text from the filing
Pursuant to the terms of the previously announced Share Purchase Agreement, dated as of September 21, 2021 (as amended by Amendment No. 1 to the Share Purchase Agreement, dated as of May 10, 2022, the “Purchase Agreement”) among the Company, Mitsubishi UFJ Financial Group, Inc. (“Seller Holdco”) and MUFG Americas Holdings Corporation, a wholly owned subsidiary of Seller Holdco (“Seller” and together with Seller Holdco, “Sellers”), the Company purchased from the Seller (the “Acquisition”) all the issued and outstanding shares of common stock of MUFG Union Bank, N.A., a national banking association (“Union Bank”), for a purchase price consisting of $5.5 billion in cash, subject to certain customary adjustments, and 44,374,155 shares of common stock of the Company (the “Stock Consideration”).
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