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BRIEF-First horizon to buy Capital Bank in deal valued at $2.2 bln
2017年5月4日 / 上午11点21分 / 7 个月前

BRIEF-First horizon to buy Capital Bank in deal valued at $2.2 bln

May 4 (Reuters) - First Horizon National Corp

* First horizon and capital bank merger to create fourth largest regional bank in southeast

* First horizon, which has $30 billion in assets, will acquire capital bank, which has $10 billion in assets

* First horizon national corp - combined organization will have $40 billion in assets, $32 billion in deposits, $27 billion in loans

* Total transaction value, at yesterday’s first horizon closing stock price, is $2.2 billion

* First horizon - each holder of capital bank common stock will be entitled to receive cash or stock with value equivalent to 1.750 first horizon shares & $7.90 in cash for each share

* First horizon national corp - in aggregate, capital bank shareholders will receive a mix of approximately 80 percent stock and 20 percent cash

* Agreement calls for two members of capital bank’s board of directors to join first horizon board

* Gene taylor, capital bank chairman and ceo, who will become vice chairman of first horizon

* First horizon national- after closing, capital bank shareholders collectively will own approximately 29 percent of first horizon’s common shares

* First horizon national corp - merger agreement has been approved by boards of both companies

* In aggregate, capital bank shareholders will receive a mix of approximately 80 percent stock and 20 percent cash

* First horizon national corp - barclays capital inc. And morgan stanley & co. Llc served as financial advisors to first horizon

* First horizon national corp - after closing, capital bank shareholders collectively will have received approximately $411 million in cash

* First horizon national corp - Sandler O‘Neill + partners l.p. And ubs investment bank served as financial advisors to capital bank Source text for Eikon: Further company coverage:

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