secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0001193125-22-296642
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

U.S. Bancorp completes $5.5B cash + stock acquisition of Union Bank from MUFG
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- Purchase price: $5.5B cash plus 44.4M USB shares, based on Union Bank tangible book value of $6.25B.
- Excess capital of $3.5B above target to be paid to MUFG within 5 years per purchase agreement.
- Systems integration and account conversion expected in H1 2023; $100B community benefits plan begins after.
- Issued 44.4M new shares as Stock Consideration; total shares outstanding ~1.53B after close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000119312522296642/0001193125-22-296642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000119312522296642/d766593d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-296642

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer