Buyout Case Study: Why Cadence Spurned Trustmark
The Commercial Appeal (2007-Current) › October 25, 2010
Linked as:
Summary
JACKSON, Miss. - Trustmark Corp. believes its attempt to acquire Cadence Bank - even though it failed - can serve as a blueprint for other banks seeking to buy distressed institutions not yet under Federal Deposit Insurance Corporation control.
On Oct. 6, Cadence Financial Corp., the parent of Cadence Bank, called off an acquisition deal with Trustmark and accepted what it called a more lucrative buyout from a Houston, Texas, company formed to invest in community banks.See the full content of this document
Extract
Buyout Case Study: Why Cadence Spurned Trustmark
Starkville, Miss.-based Cadence said Community Bancorp LLC will buy the company for $2.50 per share in cash, a total of about $30 million.
On Sept. 22, Tr...See the full content of this document
Sponsored links
