Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Walnut Valley Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
11/9/1993
Announcement Date:
11/9/1993
Announced Deal Value ($ M):
14.30
Status:
Completed
Completion Date:
3/1/1994
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Common Stock ($M) 16.0
Common Stock Issued 507,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 111.4 123.2
Price / Tangible Book (%) 111.4 123.2
Price / Earnings (x) 12.2 16.2
Price / Deposits (%) 17.87 20.00
Price / Assets (%) 14.25 16.15
Tangible Book Premium/ Deposits (%) 1.95 4.03
Deal Terms
Description of Consideration

Walnut Valley shareholders will receive an aggregate of 507,000 shares of Commerce common stock.

Accounting Method Pooling of Interests
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) 0
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Sheshunoff & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Gage & Tucker