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| Buyer: New York Community Bancorp, Inc. | | Actual Acquirer: New York Community Bank | | Target: Roslyn Bancorp, Inc. | | Deal Type: Bank & Thrift Company | | Announcement Date | 6/27/2003 | | Announced Deal Value ($M) | 1,578.5 | | Status | Completed | | Completion Date | 10/31/2003 | | Announced Deal Value Per Share ($) | 20.33 |
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| Common Stock ($M) | 2,130.5 | | Common Stock Issued | 57,000,000 |
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| | Announcement | Completion | | Price / Book (%) | 289.9 | 378.7 | | Price / Tangible Book (%) | 290.4 | 379.2 | | Price / Earnings (x) | 10.6 | 13.8 | | Price / Deposits (%) | 25.80 | 35.01 | | Price / Assets (%) | 14.51 | 19.71 | | Tangible Book Premium/ Deposits (%) | 19.68 | 31.15 |
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| Description of Consideration | | New York Community issued 0.75 share for each share of Roslyn. | | Accounting Method | Purchase | | 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 ($000) | 0 | | Exchange Ratio (Common For Common) | 0.7500 | | Exchange Ratio (Preferred For Common) | NM | | Lockup Agreement | Yes | | Strike Price ($) | 20.8500 | | % of Shares Outstanding | 19.90 | | Shares Under Option | 15,000,000 | | Core Deposit Intangibles ($000) | 42,600 |
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Post-Completion
Year
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Deal
Accretive?
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Earnings
Accretion(%)
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Earnings
Accretion($)
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Est. Cost
Savings(%)
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Est. Cost
Savings($000)
| | 2 | Accretive | NA | NA | 28 | 22,000 |
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| Party Advised | Adviser Hired? | Firm Name | | Buyer | Yes | Citigroup Global Markets Inc. | | Seller | Yes | Goldman Sachs & Co. |
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| Party Advised | Adviser Hired? | Firm Name | | Buyer | Yes | Sullivan & Cromwell LLP | | Seller | Yes | Muldoon Murphy & Aguggia LLP |
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