Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares
Target:
Union Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
11/1/1994
Announcement Date:
11/1/1994
Announced Deal Value ($ M):
86.70
Status:
Completed
Completion Date:
4/17/1995
Announced Deal Value Per Share ($ )
242.00

Consideration Breakout
Cash ($M) 86.7

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 192.1 189.9
Price / Tangible Book (%) 218.9 215.4
Price / Earnings (x) 14.4 15.2
Price / Deposits (%) 16.99 17.14
Price / Assets (%) 13.28 13.10
Tangible Book Premium/ Deposits (%) 9.46 9.56
Deal Terms
Description of Consideration

Union Bancshares shareholders received $242.00 in cash for each share held.

Accounting Method Purchase
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 37,550
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
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) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Blackwell Sanders Peper Martin
Seller NA NA