Ford Financial Fund II LP seeks to buy Mechanics Bank
Ford Financial Fund II LP said Monday that a subsidiary, EB Acquisition Company LLC, has extended the expiration date of its cash tender offer to buy up to 65 percent of Mechanics Bank's outstanding shares at $26.832 a share. The purchase price is reportedly $265 million. The tender offer is scheduled to expire at midnight, New York City time, on March 31. Walnut Creek, California-based Mechanics Bank is a community bank with $3.4 billion in assets as of Dec. 31.
2 March 2015•3 mins read
