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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions Bancorporation
Target: Eldorado Bancshares, Inc.
Deal Type: Bank & Thrift Company
Agreement Date12/14/2000
Announcement Date12/14/2000
Announced Deal Value ($M)204.00
Completion Date3/30/2001
Announced Deal Value Per Share ($)13.69
Consideration Breakout
Common Stock ($M)173.6
Common Stock Issued3,900,000
Deal Pricing Ratios
Price / Book (%)154.5128.0
Price / Tangible Book (%)279.3219.8
Price / Earnings (x)NM19.2
Price / Deposits (%)19.7916.34
Price / Assets (%)16.1613.38
Tangible Book Premium/ Deposits (%)14.2610.62
Deal Terms
Description of Consideration
Eldorado shareholders received 0.23 share of Zions common stock for each share held.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Partial Overlap
Goodwill Generated ($000)89,000
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)NA
Maximum Termination Fee ($000)0
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)0.230000
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementYes
Strike Price ($)10.0000
% of Shares Outstanding19.90
Shares Under Option2,814,104
Core Deposit Intangibles ($000)NA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
SellerYesKeefe Bruyette & Woods Inc.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesSullivan & Cromwell LLP
SellerYesNutter McClennen & Fish LLP

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