Both companies involved in the transaction are based in the US.
According to the terms of the agreement, BancTrust shareholders will receive 0.125 shares of Trustmark common stock for each share they hold in a tax-free exchange.
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Additionally, Trustmark will issue approximately 2.24 million common shares for all issued and outstanding shares of BancTrust common stock.
The transaction is valued at a price of US$24.66 per share of Trustmark common stock or US$3.08 per share of BancTrust common stock.
The deal which is expected to close during the close of the fourth quarter of 2012 is subject to receive approval from regulatory authorities, BancTrust’s shareholders, as well as certain other customary closing conditions.
While the financial advisor of Trustmark is Sandler O’Neill & Partners, Keefe, Bruyette & Woods is the financial advisor to BancTrust.
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By GlobalDataAnd Wachtell, Lipton, Rosen & Katz and Hand Arendall and DLA Piper are acting as the legal advisors of Trustmark and BancTrust respectively.
