M and A
Deals Of The Day: The Latest In Wealth Management M&A – Raymond James, TriState
The latest corporate deals, transactions and acquisitions in the North American wealth management industry.
Raymond James, TriState Capital
Holdings
Florida-based Raymond James has
completed its previously announced purchase of TriState Capital
Holdings.
The cash and stock transaction was, as stated in the initial announcement in October last year, valued at about $1.1 billion.
In the deal, each share of TriState Capital common stock was converted into the right to receive $6.00 in cash and 0.25 shares of Raymond James common stock, which represents per share consideration of $30.62 based on the closing price of Raymond James common stock on May 31, 2022.
Shares of TriState Capital ceased trading after the closing of the NASDAQ stock market on May 31, 2022, Raymond James said in a statement yesterday.
“The strategic and cultural fit between Raymond James and TriState has been continually reinforced as our teams have worked toward this point over the last few months,” Raymond James chair and CEO Paul Reilly, said.
