Maxim Group Downgrades EverBank Financial (EVER) to Hold

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Go back to Maxim Group Downgrades EverBank Financial (EVER) to Hold

TIAA to Acquire EverBank Financial (EVER) for ~$2.5B

August 8, 2016 7:31 AM EDT

TIAA announced today an agreement to acquire EverBank (NYSE: EVER), a nationwide consumer and commercial bank with $27.4 billion in total assets. This acquisition significantly expands TIAAs banking and lending products and complements the companys full suite of retirement, investment and advisory services available to help customers achieve financial well-being.

Under the terms of the agreement, EverBank stockholders will receive $19.50 per share in cash, or an approximate total of $2.5 billion. The combination of TIAAs existing banking operations and EverBank will significantly bolster TIAAs banking capabilities and form a full-service banking company... More