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Conejo Valley Based Bank Rejects Buyout Offer

Posted on Wednesday, May 9, 2012 3:38pm

A Conejo Valley based bank has rejected an unsolicited buyout offer.

First California Financial Group says it rejected a proposed deal from PacWest Bancorp. Westlake Village based First California has been facing pressure from some shareholders to sell itself.

In rejecting the offer, First California officials said they didn’t have enough details about the offer to consider a deal, but that Los Angeles based PacWest wanted an exclusivity agreement before it would disclose additional information.

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