As a result of an ongoing review of its strategic alternatives, EverBank is in advanced negotiations with a well-respected financial services company regarding a transaction in which EverBank Financial would be acquired and EverBank Financial’s common stockholders would receive $19.50 per share in cash.

In addition, the transaction contemplates that each share of EverBank Financial Corp’s Series A Preferred Stock would receive cash in an amount equal to the liquidation preference plus accrued and unpaid dividends. There can be no certainty that these negotiations will result in a definitive agreement or that the terms will not vary from those currently under discussion or that the review of EverBank Financial’s other strategic alternatives will result in any action.

The company said it does not intend to make any additional comments or statements regarding these matters until such time, if at all, that it has reached a definitive agreement for a transaction. EverBank Financial further noted that it had entered into an agreement with the financial services company to negotiate exclusively with it regarding a transaction and such exclusivity agreement expires at 11:59 p.m. on August 8, 2016.

This announcement comes after reports surfaced that EverBank received an unsolicited offer and hired UBS as an adviser.