Bay View Capital Announces Results of Franchise Mortgage Cash Elections.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Nov. 2, 1999-- Bay View Capital Corp. (NYSE NYSE See: New York Stock Exchange :BVC BVC Bar Vocational Course (UK) BVC Bolsa de Valores de Colombia (Colombia) BVC Bureau Veritas Certification BVC Banco Venezolano de Credito (Venezuela) ) and Franchise Mortgage Acceptance Company (Nasdaq:FMAX) completed the merger between the two companies on November 1, 1999. Pursuant to the merger agreement, each FMAC FMAC Find, Meet, Attract, Close FMAC Financial and Management Accounting Committee FMAC Fédération Mondiale des Anciens Combattants (French: World Veterans Federation) FMAC FEMA Map Assistance Center FMAC FPGA Mission Assurance Center shareholder elected to receive either $9.80 in cash or 0.5444 shares of Bay View common stock. These elections were adjusted to ensure that 85% of the FMAC common shares were paid in Bay View stock and 15% were paid in cash. Approximately 24.2% of the FMAC shares electing to receive cash will be exchanged for cash. For example, if an FMAC shareholder elected to receive cash for 100 shares of FMAC, 24 of those shares will be exchanged for cash and the remainder for Bay View common stock. Bay View anticipates that the stock and cash distributions will be made on Wednesday, November 3, 1999. Bay View Capital Corp. is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services holding company with over $6 billion in assets. Headquartered in San Mateo, it is the parent company of Bay View Bank, N.A. and its subsidiaries, Bay View Acceptance Corp., Bay View Commercial Finance Group, Bay View Franchise Mortgage Acceptance Company, and Bankers Mutual. |
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