Mr. Sparkle
Disrespectful to dirt
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Pretty shocking. The death of a major New Orleans institution.
http://www.bloomberg.com/news/2010-...5-billion-to-expand-banking-in-u-s-south.html
Hancock Holding Co. agreed to buy Whitney Holding Corp., the New Orleans-based lender to the oil and gas industries, for $1.5 billion to expand in the U.S. South.
The stock swap values Whitney at $15.48 a share, 42 percent more than yesterday’s closing price of $10.87, Gulfport, Mississippi-based Hancock said today in a statement distributed by Globe Newswire. Investors will get 0.418 Hancock share for each Whitney share.
Hancock is expanding in states including Louisiana, Mississippi and Texas after bailed-out Whitney sold nonperforming loans and was hurt by the Gulf Oil spill. The combined institution will have about $20 billion in assets and 305 branches. Five Whitney directors will join the Hancock board at the completion of the purchase, which is expected in the second quarter of 2011.
http://www.bloomberg.com/news/2010-...5-billion-to-expand-banking-in-u-s-south.html
Hancock Holding Co. agreed to buy Whitney Holding Corp., the New Orleans-based lender to the oil and gas industries, for $1.5 billion to expand in the U.S. South.
The stock swap values Whitney at $15.48 a share, 42 percent more than yesterday’s closing price of $10.87, Gulfport, Mississippi-based Hancock said today in a statement distributed by Globe Newswire. Investors will get 0.418 Hancock share for each Whitney share.
Hancock is expanding in states including Louisiana, Mississippi and Texas after bailed-out Whitney sold nonperforming loans and was hurt by the Gulf Oil spill. The combined institution will have about $20 billion in assets and 305 branches. Five Whitney directors will join the Hancock board at the completion of the purchase, which is expected in the second quarter of 2011.