The Firm is representing Lazard Freres & Co. LLC as financial advisor to Teachers Insurance and Annuity Association of America (“TIAA”) in connection with its acquisition of EverBank Financial Corp (NYSE: EVER) for approximately US$2.5 billion in cash.
TIAA is a leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $889 billion in assets under management as of June 30, 2016 and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.
EverBank Financial Corp, through its wholly owned subsidiary EverBank, provides a diverse range of financial products and services directly to clients nationwide through multiple business channels. Headquartered in Jacksonville, Florida, EverBank has $27.4 billion in assets and $18.8 billion in deposits as of June 30, 2016.
Following the transaction, TIAA intends to combine its bank and EverBank’s operations to form a full-service banking company headquartered in Jacksonville.
The Simpson Thacher team includes Lee Meyerson and Shelly Lin (M&A).