Prosperity Bancshares to buy Stellar Bancorp in $2 billion deal
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Jan 28 (Reuters) -U.S. regional lender Prosperity Bancsharessaid on Wednesday it would buy rival Stellar Bancorpin a $2 billion cash-and-stock deal.The deal will bolster Prosperity’s presence in greater Houston, Beaumont and Dallas.Prosperity has offered 0.3803 of its shares and $11.36 in cash for each Stellar share held.The transaction is expected to close in the second quarter.Keefe, Bruyette & Woods and Norton Rose Fulbright US advised Stellar, while Wachtell, Lipton, Rosen & Katz advised Prosperity.
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