First Midwest’s $6.5 Billion Merger of Equals With Old National

Simpson Thacher represented J.P. Morgan Securities LLC as financial advisor to First Midwest Bancorp in the transaction.

First Midwest Bancorp, Inc. (Nasdaq: FMBI) executed its all-stock merger of equals with Old National Bancorp (Nasdaq: ONB) with a total market value of $6.5 billion to create a premier Midwestern bank with $45 billion in combined assets. Closing of the transaction is subject to customary conditions, including regulatory and shareholder approvals.

First Midwest is one of the largest independent publicly traded bank holding companies based on assets headquartered in Chicago and the Midwest, with approximately $21 billion of assets and an additional $14 billion of assets under management. Old National is the largest bank holding company headquartered in Indiana with $23.7 billion in assets.

The Simpson Thacher team included Sebastian Tiller  (Picture) and Lee Meyerson (M&A).

Involved fees earner: Lee Meyerson – Simpson Thacher & Bartlett; Sebastian Tiller – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini