S&C Advises on Second-Largest Bank Merger of 2019—Months After Advising on the LargestNovember 15, 2019
Once again, S&C is in the headlines for its representation of First Horizon National Corp. in its $3.9 billion merger of equals with IberiaBank Corp. The Deal highlighted S&C's involvement in an article in its “Deal Diary” series, and it also made headlines in The Wall Street Journal, Reuters, American Banker and others. The S&C team advising First Horizon is jointly led by Mitch Eitel, managing partner of the S&C financial services practice, and senior chairman Rodge Cohen, and includes associates Yael Tzipori, Emily Hantverk, Sammy Tang and Keith Pulling. Corporate partner Marc Treviño, together with Special Counsel Rebecca Coccaro and associates Amanda Toy and Traci Biedermann advised on executive compensation and benefits and employment matters. Tax partner Davis Wang, together with associates Daniel Bleiberg and Eran Levy advised on tax matters.
The transaction, which is expected to close during the second quarter of 2020, is the latest on which S&C has advised First Horizon; the Firm previously represented the bank in its acquisition of Capital Bank Financial Corp. in 2017. The First Horizon/IberiaBank transaction is expected to be the second-largest bank merger of 2019. S&C also advised on the largest merger so far this year and the largest since 2008, representing SunTrust Bank in its all-stock merger with BB&T Corporation. Earlier this year, the BB&T/SunTrust merger was named “Financial Services Deal of the Year” at The Deal Awards 2019.