LegacyTexas’ Merger With Prosperity Bancshares

Simpson Thacher represented J.P. Morgan Securities LLC as financial advisor to LegacyTexas Financial Group, Inc. (NASDAQ: LTXB) in connection with its merger with Prosperity Bancshares, Inc. (NYSE: PB) for approximately $2.1 billion in a transaction involving cash and stock consideration.

Closing of the transaction is subject to approval by LegacyTexas’ and Prosperity’s shareholders, as well as state and federal regulatory agencies.

LegacyTexas is the holding company for LegacyTexas Bank, a commercially oriented community bank based in Plano, Texas. LegacyTexas Bank operates 42 banking offices in the Dallas/Fort Worth Metroplex and surrounding counties. Prosperity Bancshares is a Houston, Texas based regional financial holding company and offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers.

Prosperity was advised in this transaction by Keefe, Bruyette & Woods, A Stifel Company, as financial advisor, and Bracewell LLP, as legal counsel. LegacyTexas was advised in this transaction by J.P. Morgan Securities LLC, as financial advisor, and Shapiro Bieging Barber Otteson LLP, as legal counsel.

The Simpson Thacher team includes Lee Meyerson (Picture), Sebastian Tiller and Justine Chiu (M&A).

The Bracewell team was composed by partners William S. Anderson, Jason M. Jean, Joshua T. McNulty, Rebecca L. Baker, Scott C. Sanders, Michele J. Alexander, Aaron P. Roffwarg, Timothy A. Wilkins and Bryan S. Dumesnil, aslo included ssociates Benjamin J. Martin, Daniel W. Areshenko, Shannon Baldwin and Ryan Davis.

The Shapiro Bieging Barber Otteson team was composed by partners Christian Otteson, Bo Anderson and Kurt Leeper.

Involved fees earner: Michele Alexander – Bracewell; William Anderson – Bracewell; Daniel Areshenko – Bracewell; Rebecca Baker – Bracewell; Shannon Baldwin – Bracewell; Ryan Davis – Bracewell; Bryan Dumesnil – Bracewell; Jason Jean – Bracewell; Benjamin Martin – Bracewell; Joshua McNulty – Bracewell; Aaron Roffwarg – Bracewell; Scott Sanders – Bracewell; Timothy Wilkins – Bracewell; Bo Anderson – Shapiro Bieging Barber Otteson; Kurt Leeper – Shapiro Bieging Barber Otteson; Christian Otteson – Shapiro Bieging Barber Otteson; Justine Chiu – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; Sebastian Tiller – Simpson Thacher & Bartlett;

Law Firms: Bracewell; Shapiro Bieging Barber Otteson; Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; LegacyTexas; Prosperity Bancshares, Inc;

Author: Ambrogio Visconti