Cadence Bancorporation’s Shareholders Approve Merger with BancorpSouth Bank

During a special meeting, shareholders of Cadence Bancorporation voted to approve the previously announced merger agreement entered between Cadence Bancorporation and BancorpSouth Bank under which the companies will combine in an all-stock merger with a total market value of more than $6 billion. The boards of directors of both companies previously approved the merger agreement.

Of the shares of Cadence Bancorporation’s common stock issued and outstanding as of close of business on July 6, the record date for the special meeting, 104 million shares (or more than 99% of the votes cast) voted in favor of the merger agreement.

The proposed transaction remains subject to the receipt of certain regulatory approvals and the satisfaction of other closing conditions. Candence Bancorporation currently expects the proposed transaction will be completed during Q4/21.

Following completion of the merger agreement, the newly combined company will operate as Cadence Bank. The combined company’s common stock will trade on the New York Stock Exchange under the ticker symbol “CADE.”

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.