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TIAA to buy EverBank Financial for ~$2.5B

Aug. 08, 2016 7:58 AM ETEverBank Financial (EVER-OLD) StockBy: Carl Surran, SA News Editor
  • EverBank Financial (NYSE:EVER-OLD+2.8% premarket after agreeing to be acquired by financial services provider TIAA for $19.50/share, or ~$2.5B.
  • The deal, which is expected to close in H1 2017, represents a 4.6% premium to Friday's $18.64 closing price.
  • Shares had climbed 20% since July 25 when reports indicated that the bank was actively discussing a potential sale.
  • Florida-based EverBank has $27.4B in assets and $18.8B in deposits, and operates mostly online.

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