(New York, N.Y., November 7, 2014) - Day Pitney LLP represented Hudson Valley Holding Corp. in a merger deal with Sterling Bancorp valued at $539 million.
Attorneys leading the transaction for Day Pitney are Corporate and Business Law partners Ronald H. Janis and Michael T. Rave.
Janis is chair of the Mergers, Acquisitions and Joint Ventures practice group. He has served as counsel to targets, acquirers and investment banks in a variety of public and private company mergers.
Rave advises business entities on corporate and securities law issues, including mergers and acquisitions and public and private capital-raising, with a great deal of experience in bank M&A transactions.
The merger agreement calls for a fixed exchange ratio of 1.92 shares of Sterling Bancorp common stock for each share of Hudson Valley Holding Corp. common stock. The merger consideration represents an 18.4% premium to Hudson Valley Holding's share price as of the close of business on November 4, 2014. Upon closing, Sterling Bancorp stockholders will own approximately 69% of the stock of the combined company and Hudson Valley Holding Corp. stockholders will own approximately 31%.
Additional attorneys supporting the merger include counsel Richard Leu and associates Jennifer Genovesi Bassett and Elizabeth S. Kim, who provided counsel for the deal, as well as partners David P. Doyle, who handled employee benefits, and partner Stephen Ziobrowski and associate Andrew N. Wogman, who guided tax aspects.
The resulting regional banking institution will span New York City, the Hudson Valley, Long Island and New Jersey.
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."
On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
On January 15, Brian Fischer spoke at "When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process," an Exit Planning Exchange (XPX) program held at The Hartford Club in Hartford, CT.
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Partners Edward Krzanowski, Tiana Gianopulos and Daniel Gottfried spoke at the 2019 Federal Tax Institute of New England, a CLE program presented by the Estates and Probate Section and the Tax Section of the Connecticut Bar Association and held in Portland, CT.
On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.
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