Hancock Whitney Sinks 11% After Agreeing to Buy Trustmark for $3.2 Billion, Betting $205 Million in Cost Cuts Will Win Over Wary Investors
Hancock Whitney agreed to buy Mississippi rival Trustmark in a $3.2 billion all-stock deal that creates a $58 billion Gulf South bank. Its stock fell about 11% anyway. Here is the math behind the $205.5 million cost-savings pitch and what it means for business customers and investors.
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