(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 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.
Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.
Michael Rave will be speaking at Acquire or Be Acquired, an annual conference presented by Bank Director magazine being held in Phoenix from January 28 – 30.
On January 19, Michael Rave will be speaking at the Economic Leadership Forum, presented by the New Jersey Bankers Association.
Stephen Ziobrowski and Andrew Wogman authored the article "Challenges of Selling an S Corporation," which was published by Law360.
Gary Betensky and Michael Napoleone were featured in a profile, "Day Pitney LLP: Firm Expands to Better Serve South Florida Clients," published in the March issue of The Boca Raton Observer magazine.
Mike Rave was quoted in an analysis article, "Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal," published by Law360.
Jed Davis was quoted in an article, "Marriott Hack Shows Risks Of Lax Cyber Diligence In Mergers," published by Law360.
Day Pitney Press Release
Day Pitney Press Release