Regions Financial Agrees to Merge with Union Planters

AT&T Wireless' board has reportedly voted to set up a formal auction process for potential buyers, and more deal news

Regions Financial (RF ) agrees to merge with fellow Southeastern bank Union Planters (UPC ) in a deal estimated at about $6 billion. Terms: each UPC share will be converted into 1 share of a new company; each RF share will be converted into 1.2346 shares of the new company. Also, Regions Financial declared a $0.0816 special dividend. (1/23)

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