Good question, I guess we never really got any color on the talks that had been going on behind the scenes. I'm referring to after the hedge funds had written those letters in favor of a sale.
PACW didn't wait..I don't think they were in the drivers' seat...FCAL management & shareholders were. It took 2 more solid quarterly results to get what they wanted ;~)
I'll be interested to see how the new make-up of BoD & management will look once they merge. I don't think it [the roll up of other banks] ends here for these 2 companies.. especially if FCALs' people have any say.
As I said earlier LM I think FCAL has been driving a harder bargain ever since the initial announcement.. and I think they would have done that regardless of the heavy insider pressure.. but either way..they got it done and it worked.
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