Wachtell, Barack Ferrazzano Lead $473M Bank Merger

Law360 (September 9, 2019, 12:57 PM EDT) -- Midwestern community banks First Defiance Financial Corp. and United Community Financial Corp. said Monday they will merge their businesses in a $473 million deal steered by Wachtell Lipton and Barack Ferrazzano.

The Ohio-headquartered financial institutions will merge in a stock-for-stock transaction that will see First Defiance shareholders own roughly 52.5% of the combined company and United Community shareholders own about 47.5%, the announcement said. The deal is expected to enhance each bank's scale and product offerings.

The combined company will have strengths in commercial banking, residential lending, retail, insurance and wealth management and will focus on markets in Ohio, Michigan, Indiana,...

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