Brief: Southstate Corporation And Atlantic Capital Bancshares Announce Merger Agreement

SouthState Bank

23/07/2021 11:12

July 23 (Reuters) - Atlantic Capital Bancshares Inc
 ACBI.O :
    * SOUTHSTATE CORPORATION AND ATLANTIC CAPITAL BANCSHARES
ANNOUNCE
MERGER AGREEMENT
    * ATLANTIC CAPITAL BANCSHARES INC - DEAL FOR ALL-STOCK
TRANSACTION
WITH AN AGGREGATE VALUE OF ABOUT $542 MILLION
    * ATLANTIC CAPITAL BANCSHARES INC - DEAL FOR $26.43 PER
SHARE OF
ATLANTIC CAPITAL COMMON STOCK
    * ATLANTIC CAPITAL BANCSHARES INC - CO'S SHAREHOLDERS TO
RECEIVE
0.36 SHARES OF SOUTHSTATE FOR EACH OUTSTANDING SHARE OF ATLANTIC
CAPITAL
    * ATLANTIC CAPITAL BANCSHARES - 2 ATLANTIC CAPITAL DIRECTORS
WILL
JOIN SOUTHSTATE CORP'S BOARD AND SOUTHSTATE BANK BOARD
    * ATLANTIC CAPITAL BANCSHARES - DEAL EXPECTED TO RESULT IN
3% EPS
ACCRETION TO SOUTHSTATE ON FULLY PHASED IN BASIS AND MINIMAL
TANGIBLE BOOK VALUE DILUTION

Source text for Eikon:  ID:nGNX12KH50 
Further company coverage:  ACBI.O 

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