Sullivan & Cromwell, Wachtell Lead $3B Bank Merger Deal
Law360 (December 9, 2019, 11:12 AM EST) -- Texas Capital, advised by Sullivan & Cromwell, will join forces with Wachtell led-Independent Bank Group in a roughly $3.07 billion stock deal announced Monday aimed at creating a top Texas-based regional banking player.
The deal, billed as a merger of equals between Texas Capital Bank parent Texas Capital Bancshares Inc. and Independent Bank holding company Independent Bank Group Inc., stands to create a Texas-focused bank with about $48 billion in assets and a market capitalization of roughly $5.5 billion, according to a statement.
The terms of the deal call for each Texas Capital share to be swapped for 1.03 shares of...
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