WaFd, Inc. and EverBank Financial Corp. have entered into a $3.9 billion reverse merger agreement to combine the two financial institutions, EverBank announced Monday.
Upon completion of the transaction, the combined holding company will take the EverBank Financial Corp. name and trade on the Nasdaq Stock Market under the ticker symbol EVBK, according to a news release from EverBank.
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Action News Jax told you in February when the City of Jacksonville offered EverBank $10 million to keep its headquarters downtown. The Downtown Investment Authority later rejected that deal.
Under the terms of the deal, EverBank Financial Corp. will merge into WaFd, Inc., with EverBank designated as the accounting acquirer. Following the transaction, existing EverBank investors will own approximately 59.2% of the combined company, while WaFd shareholders will hold roughly 40.8%, the release detailed…