3 Firms Build $1.15B Valley National-Leumi Banking Merger
By Benjamin Horney (September 23, 2021, 10:35 AM EDT) -- Wachtell Lipton-led Valley National Bancorp will pay about $1.15 billion for the U.S. business of Israel-based Bank Leumi, advised by Davis Polk and Meitar, the companies said Thursday, in a transaction that will result in a single entity with roughly $49.4 billion of assets under management.
The merged business will be the 29th largest publicly traded U.S. bank by assets, according to a statement. As of June 30, Valley National boasted about $41 billion worth of assets under management, while Bank Leumi USA's assets under management stood at $8.4 billion. The U.S. Leumi business operates five commercial offices in New York,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!