Regions Financial, Amsouth Merging in $9.8b Stock Deal
Deseret News (Salt Lake City) › May 26, 2006
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Summary
BIRMINGHAM, Ala. (AP) -- The two giants of Alabama banking, Regions Financial Corp. and AmSouth Bancorp, are combining in a $9.8 billion stock deal that executives said Thursday would save money by closing branches and cutting as many as 3,600 jobs.
The agreement, in which Regions Financial will acquire AmSouth, will result in a banking powerhouse with nearly $140 billion in assets, market capitalization of about $26 billion and 2,000 branches in the South, Midwest and Texas.See the full content of this document
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Regions Financial, Amsouth Merging in $9.8b Stock Deal
The company would become the nation's 10th largest b...
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