News & Events

The Firm is representing Goldman, Sachs & Co. as financial advisor to Regions Financial Corporation (NYSE:RF) in its sale of Morgan Keegan & Company, Inc. and related affiliates to Raymond James Financial, Inc. (NYSE:RJF). 

Under the terms of the stock purchase agreement, total proceeds to Regions will be $1.18 billion, including a $250 million dividend to be paid by Morgan Keegan to Regions prior to closing, pending regulatory approval.  The transaction is expected to close in the first quarter of 2012, subject to customary closing conditions.

Regions, with $130 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services.  Morgan Keegan is a full-service brokerage and investment banking firm  and is the securities brokerage arm of Regions.  Raymond James is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies, with total client assets of approximately $268 billion.

The Simpson Thacher team includes Maripat Alpuche and Amie Siebert.