Renasant Corporation To Acquire The First Bancshares, Inc. In All-Stock Transaction Valued At ~$1.2B; Shareholders Of The First Will Receive 1 Renasant Common share For Each Share Of The First Common Stock
Portfolio Pulse from Benzinga Newsdesk
Renasant Corporation (RNST) is set to acquire The First Bancshares, Inc. (FBMS) in an all-stock transaction valued at approximately $1.2 billion. Shareholders of The First will receive 1 Renasant common share for each share of The First common stock. The merger is expected to be immediately accretive to Renasant's earnings per share and positively impact its profitability and operating ratios.
July 29, 2024 | 8:31 pm
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The First Bancshares, Inc. (FBMS) is being acquired by Renasant Corporation (RNST) in an all-stock transaction valued at $1.2 billion. Shareholders of The First will receive 1 Renasant common share for each share of The First common stock.
The acquisition provides a clear valuation for FBMS shares and offers shareholders a stake in the larger, combined entity, which is expected to have improved profitability and operating ratios.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Renasant Corporation (RNST) is acquiring The First Bancshares, Inc. (FBMS) in an all-stock transaction valued at $1.2 billion. The merger is expected to be immediately accretive to Renasant's earnings per share and positively impact its profitability and operating ratios.
The acquisition is expected to be immediately accretive to Renasant's earnings per share and improve its profitability and operating ratios, which is likely to positively impact RNST's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100