S&C’s Financial Services M&A Practice Leads Field in Banner YearJanuary 24, 2020
2019 was a strong year for Bank M&A deals, and S&C was proud to lead the way. The Firm advised on the top 5 bank M&A deals of 2019 by deal value:
- SunTrust in its $66 billion merger of equals with BB&T
- Texas Capital in its $5.5 billion merger of equals with Independent Bank
- First Horizon in its $3.9 billion merger of equals with IBERIABANK
- The financial adviser to TCF Financial in its 3.9 billion merger of equals with Chemical Financial
- Rabobank in its $2.1 billion sale of Rabobank N.A. to Mechanics Bank
S&C's leading role in bank M&A transactions is highlighted by our #1 ranking both in 2019 as well as across the past decade from 2010 to 2019 (source: Bloomberg).
In addition to bank M&A matters above, S&C advised clients across the financial services spectrum, totaling 80 financial services transactions in 2019, with a total deal value of over $355 billion. S&C's financial services lawyers work seamlessly in M&A and strategic matters across the banking, asset management, broker-dealer, exchange, financial technology, specialty finance and insurance sectors. Last year we also handled Fiserv's $22 billion acquisition of First Data (led by partners Mark Menting and Jared Fishman), CIT in its $1 billion acquisition of Mutual of Omaha Bank (led by partner Camille Orme and Mitch Eitel), Axioma's $850 million acquisition by Deutsche Börse (led in the U.S. by partner Andrew Gerlach), SoftBank Group Capital in its $200 million Series D investment in Lemonade (led by partner Marion Leydier), and Tokio Marine's $3.1 billion acquisition of Pure Group (led by partner Robert DeLaMater).
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