BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion.
Banc of California and Pacific Mercantile Bancorp, the holding company of Pacific Mercantile Bank, entered into a definitive agreement and plan of merger under which Pacific Mercantile will merge into Banc of California in an all-stock transaction valued at approximately $235 million.
M&T Bank and People’s United Financial entered into a definitive agreement under which M&T will acquire People’s United in an all-stock transaction. The implied total transaction value based on closing prices on Feb. 19, 2021, is approximately $7.6 billion.
Monroe Capital and Wells Fargo provided debt financing to Southfield Capital and Protos Security in the companies’ acquisition of Mulligan Security, a U.S.-based direct guard and fire safety solutions provider.
Huntington Bancshares, the parent company of Huntington National Bank, and TCF Financial, the parent company of TCF National Bank, signed an agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion.
TNT Crane & Rigging and certain of its affiliates emerged from Chapter 11 bankruptcy protection. The company emerged from its restructuring as a private company with a new ownership group, recapitalized with a new $225 million term loan.
Based in London, Jan-Erik Back, Duncan Sherriffs and Alex Boyce joined Stifel, bringing with them the advisory business of Galiant Partners. Together, they have more than 50 years of combined experience as investors, advisors and lenders.
BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.
Keane Group entered into a new senior secured term loan facility in an initial aggregate principal amount of $350 million to refinance its existing term loan credit facility,
Stifel Financial entered into a strategic relationship with Carlyle GMS Finance whereby the companies will mutually refer middle-market opportunities to each other.