Brief: Cadence Bank To Sell Insurance Operations Of Cadence Insurance To Arthur J. Gallagher & Co

Cadence Bank

24/10/2023 14:26

Oct 24 (Reuters) - Cadence Bank   CADE.N :
    * CADENCE BANK ANNOUNCES AGREEMENT TO SELL THE INSURANCE
OPERATIONS OF CADENCE INSURANCE TO ARTHUR J. GALLAGHER & CO
    * CADENCE BANK - PROPOSED DEAL FOR $904 MILLION IN CASH
    * CADENCE BANK - SALE IS EXPECTED TO BE SLIGHTLY POSITIVE TO
EARNINGS PER SHARE THROUGH USE OF CASH PROCEEDS TO REDUCE
WHOLESALE BORROWINGS
    * CADENCE BANK: SALE EXPECTED TO BE SLIGHTLY POSITIVE TO EPS
THROUGH USE OF CASH PROCEEDS TO REDUCE WHOLESALE BORROWINGS
    * CADENCE BANK - CADENCE ANTICIPATES TRANSACTION, WILL CLOSE
IN Q4
OF 2023
    * CADENCE BANK - CADENCE INSURANCE EXECUTIVE LEADERSHIP,
MANAGEMENT AND EMPLOYEES WILL JOIN GALLAGHER FOLLOWING SALE

Source text for Eikon:  ID:nPn6sHyJ9a 
Further company coverage:  CADE.N 

 ((Reuters.Briefs@thomsonreuters.com))