M&A Advisory
K&L Gates
Full Credential Description
Wesbanco, Inc., a multi-state bank holding company, faced the challenge of expanding its market presence and enhancing its financial capabilities through strategic growth. To address this, Wesbanco pursued the acquisition of Premier Financial Corp. in a stock-for-stock merger, which involved the issuance of approximately 28.8 million shares of Wesbanco's common stock as merger consideration. The tailored solution provided by K&L Gates LLP involved comprehensive legal counsel throughout the acquisition process. The firm’s expertise in structuring and completing complex financial transactions was crucial in navigating the regulatory and operational challenges associated with the merger. This strategic acquisition resulted in the creation of a regional financial institution with approximately $27 billion in assets, significantly enhancing Wesbanco's economies of scale and pro forma profitability metrics. As a result of this merger, Wesbanco expanded its service footprint, now operating over 250 financial centers and loan production offices across multiple states, including Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. This expansion not only increased Wesbanco's market share but also positioned it as a more competitive player in the financial industry.
Measurable Results
Successfully completed $27B transaction