Mergers & Acquisitions

Source: SNL

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Breckenridge Bancshares Company
Deal Type:
Bank & Thrift Company
Agreement Date:
10/23/2000
Announcement Date:
10/23/2000
Announced Deal Value ($ M):
29.10
Status:
Completed
Completion Date:
3/1/2001
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Common Stock ($M) 34.3
Common Stock Issued 876,750

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 201.9 228.5
Price / Tangible Book (%) 201.9 228.5
Price / Earnings (x) 14.4 16.4
Price / Deposits (%) 13.70 14.82
Price / Assets (%) 11.40 12.59
Tangible Book Premium/ Deposits (%) 7.28 8.78
Deal Terms
Description of Consideration

Commerce Bancshares issued a fixed 876,750 shares to acquire Breckenridge.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? In Market
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 0
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Stifel Nicolaus & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Blackwell Sanders Peper Martin
Seller Yes Armstrong Teasdale LLP