m_and_a
confidence high
sentiment neutral
materiality 0.75
Commerce Bancshares to acquire FineMark Holdings; exchange ratio 0.690 shares of CBSH per FineMark share
COMMERCE BANCSHARES INC /MO/
- Each FineMark common share converts into 0.690 shares of Commerce common stock; cash for fractional shares.
- Termination fee of $24 million payable by FineMark under certain circumstances.
- Transaction requires FineMark shareholder approval, regulatory approvals, and Nasdaq listing of CBSH shares.
- Certain FineMark officers, directors and shareholders entered voting agreements to support the merger.
item 1.01item 9.01