Regional lender SouthState Corporation (SSB) on May 20, 2024, entered into a definitive merger agreement to acquire Independent Bank Group, Inc. (IBTX) for about $2 billion.
Under the deal terms, Independent Bank shareholders will receive 0.60 shares of SouthState common stock for each stock they own. The deal values Independent Bank at $48.51 per share, which represents a premium of 10.40% from the stock’s last close.