Merger - Regions and Union Planters

Merger of yoke Planters corporation and Regions Financial Corporation On Friday, January 23, 2004 partnership Planters Corporation and Regions Financial Corporation announced they would merge. This will require the twelfth largest holding go with in the United States. This conjugation was deemed the jointure of equals (Hillard, 1/26/2004, para. 2). The profligateholders of both companies overwhelming voted for the merger on June 8, 2004 (Morgan, 6/17/2004, para. 2). On June 17, 2004 the merger trustworthy approval from the Federal Reserve, the last of the governmental approvals needed (Morgan, 6/17/2004, para. 1). The merger effective date was July 1, 2004, when the Union Planters stock symbol ceased to exist (Morgan, 6/17/2004, para. 5). Union Planters Corporation was a 31.5 billion dollar holding company. They were the largest holding company headquartered in Tennessee and one of the largest thirty in the United States (Morgan, 6/17/2005, para. 10). Union Planters has 925 Automatic Teller Machines and 717 banking office. These banking offices are turn up in Alabama, Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Missouri, Tennessee, and Texas (Morgan, 1/23/2004, para. 18). Before the merger, Union Planters revenues had decreased 11.86% from 2002 to 2003. Their net income also decreased by 2.

3%. Union Planters heighten annual growth in the net income category was further .04% for both three and five years respectively (Thompson, 12/2003-5/2004). Union Planters has struggled the last few years due to their mortgage operations. If the merger had not taken place it would slang struggled to polish off the EPS guidance they gave a week before the merger annunciation (Goldberg, Jason, 1/26/2004, para. 19). Union Planters does not have a good track record for integrating bank mergers, curiously one of this size (Goldberg, Jason, 1/26/2004, para. 20). This might have been one reason why they fell into the arm of Regions. Union Planters has improved their balance sheet... If you want to get a affluent essay, order it on our website: Ordercustompaper.com

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