Mergers & Acquisitions

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Deal Overview

Buyer:
MB Financial, Inc.
Actual Acquirer:
MB Financial, Inc.
Target:
MidCity Financial Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
4/19/2001
Announcement Date:
4/19/2001
Announced Deal Value ($ M):
174.80
Status:
Completed
Completion Date:
11/7/2001
Announced Deal Value Per Share ($ )
3,800.44

Consideration Breakout
Common Stock ($M) 275.0
Common Stock Issued 10,596,770

Deal Pricing Ratios

Announcement Completion
Price / Book (%) NM NM
Price / Tangible Book (%) NM NM
Price / Earnings (x) NM NM
Price / Deposits (%) NM NM
Price / Assets (%) NM NM
Tangible Book Premium/ Deposits (%) NM NM
Deal Terms
Description of Consideration

In this merger of equals, each share in MidCity was exchanged for 230.32955 shares in a newly formed company called MB Financial Inc. Each share of MBFI was exchanged for one share in the new company.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? Yes
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 19,600
Maximum Termination Fee ($ 000) 5,000
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 230.3296
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NM
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Sandler O'Neill & Partners LP
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Silver Freedman Taff & Tiernan
Seller Yes Winston & Strawn LLP
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