Hancock’s Whitney Agreement Has $50 Million Fee If Deal Falters
Stock Chart for Hancock Holding Co (HBHC)
Hancock Holding Co., which agreed yesterday to buy Whitney Holding Corp. for about $1.5 billion to expand banking operations in the U.S. South, may be entitled to a $50 million termination fee if the target backs out.
Hancock may have to pay the same amount if it withdraws from the agreement, the Gulfport, Mississippi-based lender said in a regulatory filing today.
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