The deal appears to be equitable, Aquiline paid $10 per share, $1 above the tangible book value. This also show the promise of BNCN. I do think as a result, Aquiline will essentially control the bank. That makes the premium well worth it for Aquiline.
PS I dislike the fact that any board would have so much authority as to give away the control of the company without shareholder's approval, but that's a subject for another day.