March 30 (Reuters) - Privatebancorp Inc PVTB.O :
* Cibc and Privatebancorp announce revised merger agreement
* Privatebancorp Inc - stockholders will receive, upon completion of proposed merger with CIBC, US$24.20 in cash and 0.4176 of a CIBC common share
* Privatebancorp Inc - amended agreement values Privatebancorp at approximately 2.7 times tangible book value as of December 31, 2016
* Privatebancorp Inc - CIBC estimates that completion of transaction will contribute approximately US$340 million (c$450 million) of net income in fiscal 2020
* Privatebancorp Inc - board unanimously supports amended terms and continues to recommend that Privatebancorp stockholders approve transaction
* Privatebancorp Inc-CIBC estimates that completion of transaction wil become accretive to CIBC's earnings per share within three years of closing date
* Privatebancorp Inc - CIBC expects to maintain a "strong" common equity tier (cet) 1 ratio at closing above 10 per cent
* Privatebancorp Inc - amended agreement values privatebancorp at approximately US$4.9 billion Source text for Eikon: ID:nPnc8S6Ma Further company coverage: PVTB.O