Mergers & Acquisitions

Source: SNL

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Deal Overview

Buyer:
Commerce Bancshares, Inc.
Actual Acquirer:
Commerce Bancshares, Inc.
Target:
Union Financial Corporation
Deal Type:
Bank & Thrift Company
Agreement Date:
8/4/1992
Announcement Date:
8/4/1992
Announced Deal Value ($ M):
26.50
Status:
Completed
Completion Date:
1/1/1993
Announced Deal Value Per Share ($ )
765.06

Consideration Breakout
Common Stock ($M) 30.9
Common Stock Issued 691,152

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 142.2 161.7
Price / Tangible Book (%) 142.2 161.7
Price / Earnings (x) 15.2 16.6
Price / Deposits (%) 21.93 25.47
Price / Assets (%) 16.19 19.36
Tangible Book Premium/ Deposits (%) 7.21 10.55
Deal Terms
Description of Consideration

Union Financial shareholders received 19.9363 shares of Commerce Bancshares common for each share held.

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) 19.936300
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) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Lathrop Gage LLP