SSB - Why Is Independent Bank Group Stock Surging Today? | Benzinga
Independent Bank Group, Inc. (NASDAQ:IBTX) shares are trading higher after the company inked a deal to be acquired by SouthState Corporation (NYSE:SSB) in an all-stock transaction valued at around $2 billion.
As per the terms, Independent Bank shareholders will receive 0.60 shares of SouthState stock for each share they hold. This equates to $48.51 based on SouthState’s closing stock price of $80.85 as of May 17, representing a premium of over 10% to IBTX’s last closing price of $43.94.
David R. Brooks, ...