Posts Tagged ‘Cadence Bank’

Cadence shareholders must weigh claims merger information

by Published: November 14,2010

Tags: Cadence Bank, Lewis Mallory Jr., Richard Bruald

Investor suit alleges merger terms designed to benefit Cadence execs, board more than shareholders Cadence Bank shareholders have until Dec. 9 to dissect terms of a pending acquisition of the regional bank and gauge claims in an investor lawsuit that the deal is tilted to benefit Cadence executives and board members at their expense. Shareholders […] [...]

Law and the deal

Mergers and Acquisitions attorneys need broad skill set Successful attorneys practicing in the area of mergers and acquisitions need a broad skill set, not all of which are taught in law school. An understanding of the business side of the deal is just as important as the legal end, attorneys say. The current lawsuit filed […] [...]

Cadence Bank stockholders to meet Dec. 9

by Published: November 5,2010

Tags: Cadence Bank, Trustmark

STARKVILLE — Stockholders of Cadence Financial Corp., the parent of Cadence Bank, will meet Dec. 9 in Starkville to consider a buyout by a private Houston, Texas-based investment firm. The Commercial Dispatch reports a proxy statement and ballot approved by the Securities and Exchange Commission was issued to shareholders this week. Cadence agreed to the […] [...]

Cadence Bank being sued over sale to Texas company

by Published: November 4,2010

Tags: Bancorp, Cadence Bank, lawsuit, sued, Trustmark

STARKVILLE — Cadence Bank and its officers have been accused in a lawsuit filed in New York State Supreme Court of misleading investors about the financial institution’s sale. The Columbus Commercial Dispatch reports that the lawsuit was filed by RSD Capital in New York because Cadence’s stock is traded on the Nasdaq stock exchange. No […] [...]

Cadence cites pressures in failed merger

by Published: October 24,2010

Tags: Cadence Bank, John Allison, Ken Cyree, Lewis Mallory Jr., Trustmark

Sept. 20 deadline apparently was dealbreaker As September moved past its mid-point, Cadence Bank executives saw their choices narrowed to this: Get a buyer deal done right away or feel the heat of federal sanctions for failing to meet a Sept. 19 deadline to significantly raise capital reserves. Cadence faced a two-minute drill with no […] [...]

MAKING THE DEAL: How Cadence decided to go with Community bancorp

by Published: October 24,2010

Tags: Cadence Bank, Community Bancorp, Trustmark

In mid-summer, Cadence Bank executives got the not-unexpected advice to forget about trying to solve the bank’s capitalization problems through an $80-million common stock offering. The current market won’t support it, cautioned Keefe, Bruyette & Woods, a New York investment banking firm hired as underwriters for the stock sale. So Cadence put the word out […] [...]

Cadence Bank offers new details on acquisition reversal

by Published: October 20,2010

Tags: Cadence Bank, Trustmark Bank

STARKVILLE — A proxy statement Cadence Bank filed with the U.S. Securities & Exchange Commission Wednesday sheds new light on one of the most high-profile reversals of the year – Cadence’s scrapping of a publicly announced “definitive” agreement to be acquired by Trustmark National Bank of Jackson in favor an offer by Houston banking investment […] [...]

‘Tarnished franchise?’

Cadence battles public opinion after backing out of Trustmark deal; claims it saved 125 jobs in Starkville area because of the move Cadence Bank’s shareholders — especially the “insiders” who own nearly11 percent of the bank holding company’s stock — get an appealing payday from last week’s decision to scrap an acquisition deal with Trustmark […] [...]

Trustmark loss of CADENCE stings but it’s not permanent

Getting jilted by Cadence Bank will cost Jackson’s Trustmark National Bank 7 cents in earnings per share for 2011, banking analyst Kevin Fitzsimmons of Sandler O’Neil & Partners estimates. The 7 cents reduction puts the earnings per share for next year back to pre-acquisition estimate of $1.52, said Fitzsimmons, managing partner of the New York-based […] [...]

TALKS: Who knew what and when?

Trustmark would like to know exactly when Houston- based Community Bancorp, LLC started talking acquisition with Starkville’s Cadence Bank won’t be known until Cadence files a proxy statement with the U.S. Securities & Exchange Commission by Oct. 18. That’s some reading material that Trustmark National Bank executives will look at with interest. Trustmark executives learned […] [...]

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