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NEW YORK, April 26, 2021 (GLOBE NEWSWIRE) Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Flagstar Bancorp, Inc. (NYSE:FBC) breached their fiduciary duties or violated the federal securities laws in connection with the company s acquisition by New York Community Bancorp (NYSE:NYCB).
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On April 26, 2021, Flagstar announced that it had signed an agreement to be acquired by New York Community for approximately $2.6 billion. Pursuant to the merger agreement, Flagstar stockholders will receive 4.0151 shares of New York Community common stock for each share of Flagstar common stock owned. The deal is scheduled to close by the end of 2021.
N Y Community Bancorp Buys Flagstar in $2 54 Billion Takeover
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New York Community Bancorp, Inc To Acquire Flagstar Bancorp, Inc In An All Stock Strategic Merger
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Flagstar Bancorp Inc (NYSE: FBC) shares gained 8% on Monday after the company announced an acquisition deal.
What Happened? On Monday, Flagstar announced it s being acquired by
New York Community Bancorp, Inc. (NYSE: NYCB) in a stock deal valued at $2.6 billion.
Flagstar shareholders will receive 4.0151 shares of New York Community for each share of Flagstar they currently hold. The combined bank is expected to have more than $87 billion in assets and operate about 400 branches in nine different states.
Why It’s Important: The market sees the merger as a win-win scenario for both banks given New York Community shares were also trading higher following the news.
New York Community Bancorp, Inc To Acquire Flagstar Bancorp, Inc In An All Stock Strategic Merger
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