Mergers & Acquisitions

Source: SNL

Return to Mergers & Acquisitions

Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Republic Bancshares, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
10/19/1992
Announcement Date:
10/19/1992
Announced Deal Value ($ M):
7.90
Status:
Completed
Completion Date:
5/1/1993
Announced Deal Value Per Share ($ )
4,728.85

Consideration Breakout
Common Stock ($M) 7.3
Common Stock Issued 207,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 146.3 136.6
Price / Tangible Book (%) 146.3 136.6
Price / Earnings (x) 10.8 9.7
Price / Deposits (%) 17.85 16.28
Price / Assets (%) 15.68 14.37
Tangible Book Premium/ Deposits (%) 6.31 4.74
Deal Terms
Description of Consideration

Republic shareholders received Commerce common equal to (1.5455x Republic equity to $5.5M plus overage divided by 1,673) divided by Commerceavg. stock price. Commerce's stock price was collared at $35.50 and $41.50.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) NA
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) 123.729800
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
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 Yes Stinson LLP