Based on election results and the average closing price of BKU common
stock of
-
Herald preferred and common shareholders who made valid cash elections
will receive
$3.6587 in cash for each share of Herald stock for which they made such an election; - Herald preferred and common shareholders who made valid stock elections will receive 0.1569 of a share of BKU common stock for each share of Herald stock for which they made such an election; and
-
Herald preferred and common shareholders who did not make a valid
election will receive 0.1569 of a share of BKU common stock per
share of Herald stock for approximately 23% of the shares for which
they did not make an election and
$3.6587 per share in cash for the remaining shares of Herald stock for which they did not make an election.
Under the merger agreement, fractional shares of BKU common stock will
not be issued. Instead, former Herald shareholders will in lieu of
receiving fractional shares receive cash based on the average closing
price of BKU common stock of
About
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
reflect the current views of BKU with respect to, among other things,
future events and financial performance. BKU generally identifies
forward-looking statements by terminology such as “outlook,” “believes,”
“expects,” “potential,” “continues,” “may,” “will,” “could,” “should,”
“seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates” or the negative version of those words or other comparable
words. Any forward-looking statements contained in this press release
are based on the current plans, estimates and expectations of BKU. The
inclusion of this forward-looking information should not be regarded as
a representation by BKU that the future plans, estimates or expectations
contemplated herein will be achieved. Such forward-looking statements
are subject to various risks and uncertainties and assumptions relating
to BKU’s operations, financial results, financial condition, business
prospects, growth, strategy, and liquidity. If one or more of these or
other risks or uncertainties materialize, or if the underlying
assumptions prove to be incorrect, actual results may vary materially
from those indicated in these statements. These factors should not be
construed as exhaustive. BKU does not undertake any obligation to
publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise. A number of
important factors could cause actual results to differ materially from
those indicated by the forward-looking statements. Information on these
factors can be found in the 2011 Annual Report on Form 10-K of BKU,
filed with the
Source:
BankUnited, Inc.
Douglas J. Pauls, 305-461-6841
dpauls@bankunited.com