WesBanco to acquire Premier Financial for ~$959M all-stock; raises $200M capital

WESBANCO INC

Exchange ratio 0.80 WSBC shares per PFC share; aggregate consideration ~$959M or $26.66/share based on WSBC close of $33.32 on Jul 24.
$200M capital raise via 7.27M shares at $27.50/share; led by Wellington Management; expected close Aug 1, 2024.
Pro forma combined assets ~$27B; cost savings fully phased-in expected >40% accretive to 2025 EPS.
TBV dilution ~13% earned back in ~2.8 years cross-over; four Premier directors to join WSBC board.
Transaction targeted to close Q1 2025; subject to regulatory and both shareholder approvals.

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