Bancorp South, Cadence Merger Gets Final Regulatory Approval
October 15 2021 - 7:38AM
Dow Jones News
By Matt Grossman
BancorpSouth Bank and Cadence Bancorporation have received final
approval from the Federal Deposit Insurance Corp. for the deal to
proceed, the companies said Friday.
The deal, announced in April, is scheduled to close at the end
of October. The combined bank, which is to be called Cadence Bank
with dual headquarters in Houston and Tupelo, Miss., would trade
under ticker symbol CADE.
Cadence shareholders would receive 0.7 shares of BancorpSouth
per Cadence share owned. Cadence shareholders will also get a
special dividend to $1.25 a share.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 15, 2021 07:23 ET (11:23 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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