Zions Bancorp to Buy Amegy Bancorp for $1.7 billion

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012809-zions-bancorp-to-buy-amegy-bancorp-for-17/

By Greg Morcroft, MarketWatch

Zions Bancorp said Wednesday it’s buying Amegy Bancorp for about $1.7 billion in cash and stock, expanding its operations into the fast-growing Texas market.

The deal values Amegy at $23.32 per share. In pre-open trading Amegy shares fell 3.5% to $22.17.

Zions is paying a 1.5% premium to Amegy’s closing price on Tuesday, when shares rose on a report that Zions and Compass Bancshares were bidding for it.

For this complete story, please visit Zions Bancorp to Buy Amegy Bancorp for $1.7 billion.

Zions Bancorp to Buy Amegy Bancorp for $1.7 billion

Unknown Author

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