CoBiz Financial to Be Acquired by BOK Financial for $1 Billion
06.19.18
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Simpson Thacher is representing CoBiz Financial Inc. (NASDAQ: COBZ) in connection with the signing of a definitive merger agreement under which CoBiz will merge with BOK Financial (NASDAQ: BOKF) in a transaction valued at approximately $1 billion. Approximately 75% of the consideration will be in stock, with the rest in cash.
CoBiz Financial is a $3.8 billion financial services company that serves the complete financial needs of businesses, business owners and professionals in Colorado and Arizona. The company’s subsidiaries are: Colorado Business Bank and Arizona Business Bank, which provide commercial banking services; CoBiz Private Client Advisors which offers private banking through CoBiz Private Bank and investment management and wealth planning through CoBiz Wealth; and CoBiz Insurance which delivers employee benefits and property and casualty insurance brokerage.
The Simpson Thacher team includes Lee Meyerson, Elizabeth Cooper, Nicholas Marricco and Matt Craine (M&A); Spencer Sloan (Bank Regulatory); Jonathan Goldstein and Dmitry Zelik (Tax); and Larry Moss and Patricia Adams (Executive Compensation and Employee Benefits).