M&A · Financials · State Commercial Banks
United Community Banks Inc to acquire Reliant Bancorp, Inc.
Announced Jul 14, 2021 · Closed Jan 3, 2022
Deal value$517M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$30.58 per share
Transaction
- Acquirer
- United Community Banks Inc (UCB)
- Target
- Reliant Bancorp, Inc.
- Buyer type
- Strategic
- Offer price per share
- $30.58
- Enterprise value
- —
- Status
- Closed Jan 3, 2022
Deal protections
- Break fee (target pays)
- $18.4M · 3.6%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- D.A. Davidson, Morgan Stanley, Piper Sandler
- To the target
- Raymond James, Credit Suisse
Sector context · Financials
- Comparable deals
- 42 in the prior 24 months
- Premium
- Sector median 42.7%
- EV / Adj. EBITDA
- Sector median 21.6x
- Break fee
- 3.6% vs. 3.7% sector median
Timeline
- AnnouncedJul 14, 2021
- Proxy filedOct 25, 2021
- Definitive proxyOct 25, 2021
- Shareholder voteDec 8, 2021
- ClosedJan 3, 2022