Business First Bancshares Inc., headquartered in Baton Rouge, Louisiana, has announced its upcoming acquisition of Dallas-based Oakwood Bancshares Inc. in an all-stock transaction valued at approximately $85.7 million. The deal, pegged to Business First’s April 22 closing stock price, allows Oakwood shareholders to exchange each share for 0.5112 shares of Business First. Oakwood Bank, with its roots dating back to 1900, has expanded significantly under CEO Roy Salley’s leadership post his company-led acquisition in 2017. The deal, likely to close in Q4, is expected to bolster B1Bank’s assets above $7 billion and notably increase its Texas lending and deposit market share. The bank’s network will extend with additional branches in Dallas and two rural Texas locations. Both Salley and Oakwood Bancshares Chairman William G. Hall are set to join Business First and B1Bank boards. In other recent North Texas M&A activity, CareMetx LLC has acquired PX Technology, a health care software firm, with financial details undisclosed. Furthermore, Encore Wire Corp., a wire and cable manufacturer, is set to go private in a transaction exceeding $4 billion with Prysmian SpA offering $290 per share—representing a 20% premium on the pre-announcement weighted average share price.

Banking and Financial Services, Healthcare Technology, Manufacturing,North Texas, United States, Louisiana, United States, Maryland, United States

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