Apparently you have not seen how deals like that can go down, and how you leverage stock even when the company does not have cash to complete the acquisition
Here is a big board example..... This is on topic and relevant, because I'm describing how TOFS could eventually down the road accomplish actually buying a small bank.
Level 3 communications early in October acquired fellow Tier 1 network service provider Global Crossing for $3 Billion dollars. They only had $580 Million in cash on hand.
So on April 11, 2011, Level 3 made a tender offer to acquire fellow Tier 1 provider Global Crossing in an all-stock transaction. The offer was 56% higher than Globals closing price on that day. On August 5, 2011, Level 3's purchase of Global Crossing was approved by shareholders of both companies. On October 4, 2011 the purchase was completed. On October 20, 2011, Level 3 Communications completed a reverse stock split and transferred its stock listing from NASDAQ to the New York Stock Exchange.
Yes, you can leverage stock to make an acquisition. But he needs to get the brokerage going, the TA going, and he the investment side converting to obtain cash also, but no he does not have to have the cash to make the acquistion.
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