Bridging an $18 Million Pricing Gap

First Busey and CrossFirst spent nearly two months debating the exchange ratio for their proposed merger. Busey gave in after decided the deal made strategic sense.

Hello, Bank Slaters,

Popping into your inbox with an interesting piece on the pending sale of CrossFirst Bankshares in Kansas to First Busey in Illinois. Several interesting nuggets were embedded in a regulatory filing tied to the $917 million merger.

There was a difference of opinion over the exchange ratio that took nearly two months to resolve. Busey also relented to several other requests from CrossFirst tied to the board and the corporate headquarters. A familiar venue served as the setting for the first meeting between the leaders of both companies.

Enjoy this take on the deal.