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Day Pitney LLP is representing Valley National Bancorp (Valley) in its acquisition of Oritani Financial Corp. (Oritani). The banks have a similar focus on the northern New Jersey markets and the transaction will double Valley's market share in Bergen County and enhance its presence in Hudson County.
The companies have entered into a merger agreement in which the common shareholders of Oritani will receive 1.60 shares of Valley common stock for each Oritani share they own. The transaction is valued at an estimated $740 million, based on Valley's closing stock price on June 25, 2019. The combined company at close is expected to have approximately $38 billion in assets, $30 billion in loans, $29 billion in deposits, and 245 branches across New Jersey, New York, Florida, and Alabama.
The Day Pitney team representing Valley includes partners Michael Dunne, David Doyle and Daniel Gottfried, and associates Jaclyn D'Esposito, Christopher Rogers and Anthony Wildasin.
The company's press release can be viewed here.
On March 19, Partner Brian Fischer served as a panelist for the Exit Planning Exchange Connecticut (XPX CT): Fairfield and Hartford Chapter joint event, "Fine Print – the Deal's Not Done Until the Paperwork is Finished."
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."
On February 20, Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
On January 15, Brian Fischer spoke at "When Good Deals Go Bad – Pitfalls to Avoid During the Sale Process," an Exit Planning Exchange (XPX) program held at The Hartford Club in Hartford, CT.
Day Pitney Partner Michael Kaufman was featured in a Law360 Pulse Q&A discussing his new position as chair of the firm's Institutional Finance and Commercial Lending group.
Day Pitney Stamford Partner Michael Kaufman's new role as chair of the firm's Institutional Finance and Commercial Lending group was featured in Law360 Pulse.
Day Pitney Press Release
Day Pitney Press Release
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