Stonegate Bank And Home BancShares Provide Community Bank Merger Opportunity [Seeking Alpha]
STONEGATE BANK COMMON (SGBK)
Last stonegate bank common earnings: 7/28 08:00 am
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US:NASDAQ Investor Relations:
stonegatebank.com/inv_stock.htm
Company Research
Source: Seeking Alpha
Summary This is an event-driven opportunity. A deep dive into the numbers and history of neither Stonegate Bank (NASDAQ: SGBK ) nor Home BancShares (NASDAQ: HOMB ) will be made for sake of brevity. I will rather focus on the event (merger). The merger consideration On March 27, 2017 SGBK and HOMB announced the signing of a definitive merger agreement. Each share of SGBK will in the case of a successful merger converted into $3.27 in cash (per share cash consideration) and a number (called exchange ratio ) of HOMB shares based upon the average closing price of HOMB (per share share consideration). The specialty here is the fixed value of $49.00 for the merger consideration as long as HOMB keeps in a certain range (the collar). This sounds more difficult than it is and the merger agreement is not easy to understand if you never came across this structure before. To give some examples we need first to understand sort of the vocabulary ( page C-1 ).
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