Investors Bancorp’s $3.5 Billion Proposed Merger with Citizens Financial Group

Luse Gorman advised Investors Bancorp on the deal, while Debevoise & Plimpton advised Morgan Stanley & Co. LLC as financial advisor to Citizens Financial Group.

Investors Bancorp, Inc., Short Hills, New Jersey, announced the signing of a definitive merger agreement with Citizens Financial Group, Inc., Providence, Rhode Island, pursuant to which Investors Bancorp, Inc. will merge with and into Citizens Financial Group, Inc. in a stock and cash transaction valued at approximately $3.5 billion.

Investors Bancorp, Inc. is the holding company for Investors Bank and has approximately $26.8 billion in total assets.

Citizens Financial Group, Inc. is the holding company for Citizens Bank, National Association and has approximately $185.1 billion in total assets.

The Luse Gorman team consisted of John Gorman (Picture), Marc Levy, Jeffrey Cardone, Greg Sobczak and Brendan Saxon.

The Debevoise team was led by M&A partner Andrew Bab.

Involved fees earner: Andrew Bab – Debevoise & Plimpton; Jeffrey Cardone – Luse Gorman, PC; John Gorman – Luse Gorman, PC; Marc Levy – Luse Gorman, PC; Brendan Saxon – Luse Gorman, PC; Gregory Sobczak – Luse Gorman, PC;

Law Firms: Debevoise & Plimpton; Luse Gorman, PC;

Clients: Investors Bancorp, Inc.; Morgan Stanley;

Author: Martina Bellini