S&C Advises BancorpSouth on Agreement to Merge with Cadence in $6 Billion Deal

April 21, 2021

S&C client BancorpSouth Bank has agreed to merge with Cadence Bancorporation in an all-stock merger of equals valued at $6 billion. Upon closing, BancorpSouth shareholders are expected to own approximately 55 percent of the combined company, and Cadence shareholders are expected to own approximately 45 percent. The deal was announced April 12.

BancorpSouth is a leading regional bank headquartered in Tupelo, Mississippi with approximately $24 billion in assets and operating approximately 305 full-service branch locations as well as additional mortgage, insurance and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas. Cadence is a regional financial holding company headquartered in Houston, Texas with approximately $19 billion in assets. Its bank subsidiary operates 98 branch locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

The S&C team representing BancorpSouth includes Mitch Eitel, Rodge Cohen, Blake Schell and Donna Kim. Marc Trevino, Heather Coleman and Aaron Levine are advising on executive compensation matters. Ron Creamer and Nir Fishbien are advising on tax matters. Mehdi Ansari and Justin Orr are advising on intellectual property matters. Joe Matelis is advising on antitrust matters.