Signage is seen outside the law firm of Sullivan & Cromwell in Manhattan, New York, U.S., September 17, 2020. REUTERS/Andrew Kelly

Sullivan & Cromwell, Wachtell guide Columbia-Umpqua bank union

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(Reuters) – Sullivan & Cromwell and Wachtell, Lipton, Rosen & Katz have snagged the lead authorized roles advising on Columbia Banking System Inc’s settlement to accumulate rival Umpqua Holdings Corp in a $5.1 billion all-stock deal.

The mum or dad firms for Columbia State Bank and Umpqua Bank mentioned on Tuesday that they’d inked the deal about three months after President Joe Biden signed an govt order asking competitors enforcers to offer bank mixtures a more in-depth look.

Tacoma, Washington-based Columbia has turned to repeat advisor Sullivan & Cromwell for steerage on the merger.

The agency’s staff contains company companions Patrick Brown and Mark Menting, govt compensation companion Heather Coleman, mental property companion Nader Mousavi, tax companion David Spitzer and antitrust companion Joseph Matelis.

Brown and Menting beforehand led the attorneys who labored on the corporate’s 2017 union with Pacific Continental Corp, in keeping with a agency press launch.

Umpqua has tapped a staff from Wachtell Lipton, which suggested the Portland, Oregon-headquartered enterprise on its roughly $2 billion merger with Sterling Monetary Corp in 2014, a press launch confirmed.

The Wachtell lineup is led by company companion Edward Herlihy and govt compensation and advantages companion Jeannemarie O’Brien. The staff additionally contains bank regulatory companion Richard Kim, counsel Amanda Allexon, finance companion Gregory Pessin and tax companion Joshua Holmes. O’Brien additionally contributed to the 2014 transaction.

The Columbia State-Umpqua bank merger is predicted to wrap up in mid-2022.

Columbia’s monetary advisor is Keefe, Bruyette & Woods Inc, whereas Umpqua’s is J.P. Morgan Securities LLC.

The mixed banking firm will function places in Oregon, Washington, California, Idaho and Nevada.

Learn extra:

U.S. West Coast regional lenders Columbia and Umpqua to mix

EXCLUSIVE White Home to focus on bank mergers, monetary knowledge with competitors order

Sierra Jackson

Sierra Jackson stories on authorized issues in main mergers and acquisitions, together with deal work, litigation and regulatory adjustments. Attain her at [email protected]