TIAA $2.5 billion acquisition of EverBank

Overview:

• Financial services provider TIAA has acquired EverBank in a $2.5 billion deal.
• The price tag comes to $19.50 per EverBank share.
• The move expands TIAA's market reach, particularly into areas like EverBank's Jacksonville, Florida headquarters.
• Davis Polk & Wardwell (John Douglas, William Taylor, Randy Guynn) advised TIAA.
• Sullivan & Cromwell (H Rodgin Cohen, Mark Menting, Andrea Tokheim) advised EverBank.

Kurt Stumpo - Journalist - North America and the Caribbean