Mergers & Acquisitions | Commerce Bank

Mergers & Acquisitions

COMMERCE BANCSHARES, INC. (NASDAQ - CBSH)

Source: SNL

M&A History

<< Return to Mergers & Acquisitions

Buyer: Commerce Bancshares, Inc.
Actual Acquirer: Commerce Bank, NA
Target: West Pointe Bancorp, Incorporated
Deal Type: Bank & Thrift Company
Announcement Date	4/13/2006
Announced Deal Value ($M)	80.9
Status	Completed
Completion Date	9/1/2006
Announced Deal Value Per Share ($)	NA

	Announcement	Completion
Price / Book (%)	227.2	270.5
Price / Tangible Book (%)	227.2	270.5
Price / Earnings (x)	22.8	NM
Price / Deposits (%)	20.12	21.52
Price / Assets (%)	16.95	17.60
Tangible Book Premium/ Deposits (%)	13.59	16.60

Description of Consideration
Commerce Bancshares Inc. paid $80.9 million in cash and common stock to acquire West Pointe Bancorp Inc. subject to up to 25% of consideration being paid in cash.
Accounting Method	Purchase
In-State Transaction?	No
Merger of Equals?	No
Geographic Expansion?	In Market
Goodwill Generated ($000)	38,300
Estimated Cost Savings (%)	NA
Estimated Cost Savings ($000)	NA
Est. Restructuring Charges ($000)	NA
Maximum Termination Fee ($000)	0
Minimum Termination Fee ($000)	0
Exchange Ratio (Common For Common)	NA
Exchange Ratio (Common For Preferred)	NA
Exchange Ratio (Preferred For Common)	NA
Exchange Ratio (Preferred For Preferred)	NA
Lockup Agreement	Yes
Strike Price ($)	48.7500
% of Shares Outstanding	19.90
Shares Under Option	217,000
Core Deposit Intangibles ($000)	14,900

Party Advised	Adviser Hired?	Firm Name
Buyer	Yes	Blackwell Sanders Peper Martin
Seller	Yes	Bryan Cave LLP


Copyright 2013, © SNL Financial LC Terms of Use