Deal Snapshot
PROSPERITY BANCSAHRES TO MERGE WITH LEGACYTEXAS FINANCIAL GROUP IN USD 2.1BN DEAL
Tuesday 18 June 2019

Texas, US-based Prosperity Bancshares, Inc. (NYSE: PB), the parent company of Prosperity Bank, has signed a merger agreement with LegacyTexas Financial Group, Inc. (NASDAQ: LTXB), the parent company of LegacyTexas Bank, pursuant to which LegacyTexas will merge with Prosperity, the company said.
Under the terms of the merger agreement, stockholders of LegacyTexas will receive 0.5280 shares of Prosperity common stock and USD 6.28 cash for each LegacyTexas share, subject to certain conditions.


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Details
Date Published: 18/06/2019
Target: LegacyTexas Financial Group
Country: USA
Deal Size: 2.1bn (USD)
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor:
Buyer: Prosperity Bancshares
Buyer Advisor: Keefe, Bruyette and Woods, Bracewell LLP
Comment:


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