Connect with us

Business

Sullivan & Cromwell, Wachtell Guide Columbia-Umpqua Banking Union

Published

on

 


Signage is visible outside the Sullivan & Cromwell law firm in Manhattan, New York, United States, September 17, 2020. REUTERS / Andrew Kelly

  • Sullivan & Cromwell advises regular client Columbia
  • Umpqua calls on Wachtell Lipton again

The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page.

Reuters

The parent companies of Columbia State Bank and Umpqua Bank said Tuesday they signed the deal about three months after President Joe Biden signed an executive order asking competition authorities to review closer to bank combinations.

Columbia, based in Tacoma, Wash., Turned to regular advisor Sullivan & Cromwell for advice on the merger.

The firm’s team includes business partners Patrick Brown and Mark Menting, executive compensation partner Heather Coleman, intellectual property partner Nader Mousavi, tax partner David Spitzer and antitrust partner Joseph Matelis.

Brown and Menting previously headed attorneys who worked on the company’s union in 2017 with Pacific Continental Corp, according to a press release from the firm.

Umpqua brought in a team from Wachtell Lipton, who advised the Portland, Oregon-based company on its roughly $ 2 billion merger with Sterling Financial Corp in 2014, according to a press release.

The Wachtell line is led by corporate partner Edward Herlihy and executive compensation and benefits partner Jeannemarie OBrien. The team also includes banking regulatory partner Richard Kim, lawyer Amanda Allexon, finance partner Gregory Pessin and tax partner Joshua Holmes. OBrien also contributed to the 2014 operation.

The Columbia State-Umpqua bank merger is expected to end in mid-2022.

Columbia’s financial advisor is Keefe, Bruyette & Woods Inc, while Umpquas is JP Morgan Securities LLC.

The combined banking company will operate sites in Oregon, Washington State, California, Idaho and Nevada.

Read more:

U.S. West Coast Regional Lenders Columbia and Umpqua to Merge

EXCLUSIVE White House to target bank mergers, competitive financial data

Sources

1/ https://Google.com/

2/ https://www.reuters.com/legal/transactional/sullivan-cromwell-wachtell-guide-columbia-umpqua-bank-union-2021-10-12/

The mention sources can contact us to remove/changing this article

ExBUlletin

to request, modification Contact us at Here or [email protected]