BXS - BancorpSouth Bank and Cadence Bancorporation (CADE) to combine in an all-stock deal

BancorpSouth Bank (BXS) and Cadence Bancorporation (CADE) inks an agreement under which the companies will combine in an all-stock merger with a total market value of more than $6.0B.As per the terms, Cadence shareholders will receive 0.70 shares of BXS for each share of CADE they own. Additionally, the agreement allows for a one-time special cash dividend to CADE shareholders of $1.25/share in conjunction with the merger's close.BancorpSouth shareholders will own ~55%, and Cadence shareholders will own ~45% of the combined company.The deal was unanimously approved by the Boards of Directors of both companies.The company will combine the aesthetics of both brands and logos and operate as Cadence Bank.Dan Rollins will be the Chairman and CEO, and Paul Murphy will serve as Executive Vice Chairman of the combined company.Transaction expected to be immediately accretive to tangible book value per share at close and 17% accretion to each of BancorpSouth's and

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BancorpSouth Bank and Cadence Bancorporation (CADE) to combine in an all-stock deal