Hancock’s Whitney Agreement Has $50 Million Fee If Deal Falters
By Noah Buhayar -
2010-12-23T22:06:00Z
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.
To contact the reporter on this story: Noah Buhayar in New York at Nbuhayar@bloomberg.net
To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net
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