BankUnited Inc., the Florida bank created by a group of private equity firms from a failed home loans lender three years ago, has been weighing offers from potential bidders, but is not in formal negotiations with anyone, the New York Post said on Friday. The bank, which went public in January 2011, would now be open to an offer of between $27 and $29 a share, the Post said, citing sources. The private equity owners of BankUnited include Wilbur Ross’s WL Ross & Co., Blackstone Group and Carlyle Group.
(Reuters) – BankUnited Inc, the Florida bank created by a group of private equity firms from a failed home loans lender three years ago, has been weighing offers from potential bidders, but is not in formal negotiations with anyone, the New York Post said on Friday.
The bank, which went public in January 2011, would now be open to an offer of between $27 and $29 a share, the Post said, citing sources.
Eight months ago the company was pulled off the market after a brief sale process drew offers below expectations. It wanted an offer in the high $30-per-share range.
The NY Post said that Canada’s Toronto-Dominion Bank , which owns TD Bank in the United States, and regional franchise lender BB&T Corp, are in the running for acquiring the bank. They were both involved in the January talks.
Their recent offers value the Florida-based bank at closer to $25 a share, below BankUnited’s closing price of $25.70 on Thursday, the paper said.
Based on Thursday’s closing price the bank had a market value of about $2.4 billion, according to Thomson Reuters data.
Chief Executive John Kanas told the newspaper that the bank has no interest in soliciting bids, but if an attractive offer came along, it would be considered.
The private equity owners of BankUnited include Wilbur Ross’s WL Ross & Co, Blackstone Group LP and Carlyle Group.
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