Spirit of Texas shares hit record on merger with Simmons

Simmons First National

19/11/2021 15:26

** Spirit of Texas Bancshares  STXB.O  up 8.41% at $29.00 after
hitting record intraday high of $30.46
    ** STXB reached merger agreement with Simmons First National
 SFNC.O  in a cash-and-stock deal the companies said had an
aggregate value of about $581 mln  urn:newsml:reuters.com:*:nASA02TKG
    ** SFNC shares down 6.93% at $29.30, on track for biggest
one-day percentage drop since Nov 4, 2020; STXB shares on pace
for biggest one-day percentage gain since Nov 9, 2020
    ** STXB trading volume 7.0 times 10-day avg of 39,090
    ** Under terms of the deal, STXB common stock and 
restricted stock units will be converted into the right to
receive shares of SFNC common stock, and STXB stock options and
warrants will be cashed out
    ** With moves on Fri, STXB shares up ~73% YTD while SFNC
shares up ~36% on the year

 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))