Entire IR Site Press Releases Only Filings Only

Mergers & Acquisitions
E-mail pagePDF viewPrint viewE-mail Alert

Click here to return to Mergers & Acquisitions.
Deal Overview
Buyer: New York Community Bancorp, Inc.
Actual Acquirer: New York Community Bank
Target: Roslyn Bancorp, Inc.
Deal Type: Bank & Thrift Company
Announcement Date6/27/2003
Announced Deal Value ($M)1,578.55
StatusCompleted
Completion Date10/31/2003
Announced Deal Value Per Share ($)20.33
Consideration Breakout
Common Stock ($M)2,130.5
Common Stock Issued57,000,000

 Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)289.9378.7
Price / Tangible Book (%)290.4379.2
Price / Earnings (x)10.613.8
Price / Deposits (%)25.8035.01
Price / Assets (%)14.5119.71
Tangible Book Premium/ Deposits (%)19.6831.15
Deal Terms
 Description of Consideration
New York Community issued 0.75 share for each share of Roslyn.
Accounting MethodPurchase
In-State Transaction?Yes
Merger of Equals?No
Geographic Expansion?In Market
Goodwill Generated ($000)1,239,477
Estimated Cost Savings (%)28.00
Estimated Cost Savings ($000)22,000
Est. Restructuring Charges ($000)112,600
Maximum Termination Fee ($000)0
Exchange Ratio (Common For Common)0.7500
Exchange Ratio (Preferred For Common)NM
Lockup AgreementYes
Strike Price ($)20.8500
% of Shares Outstanding19.90
Shares Under Option15,000,000
Core Deposit Intangibles ($000)42,600
 Additional Deal Information
Post-Completion
Year
Deal
Accretive?
Earnings
Accretion(%)
Earnings
Accretion($)
Est. Cost
Savings(%)
Est. Cost
Savings($000)
2AccretiveNANA2822,000
 Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesCitigroup Global Markets Inc.
SellerYesGoldman Sachs & Co.
 
 Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesSullivan & Cromwell LLP
SellerYesMuldoon Murphy & Aguggia LLP