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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Zions Bancorporation
Actual Acquirer: Zions Bancorporation
Target: Amegy Bancorporation, Inc.
Deal Type: Bank & Thrift Company
Agreement Date7/5/2005
Announcement Date7/5/2005
Announced Deal Value ($M)1,709.70
StatusCompleted
Completion Date12/3/2005
Announced Deal Value Per Share ($)23.36
Consideration Breakout
Cash ($M)622.7
Common Stock ($M)1,122.5
Common Stock Issued14,351,120
Deal Pricing Ratios
 AnnouncementCompletion
Price / Book (%)284.2273.2
Price / Tangible Book (%)407.7378.1
Price / Earnings (x)23.622.7
Price / Deposits (%)29.4527.40
Price / Assets (%)22.6222.11
Tangible Book Premium/ Deposits (%)30.8026.41
Deal Terms
Description of Consideration
Zions paid the value of $8.50 and 0.202 Zions share in cash, stock or a mixture for each outstanding share of Amegy.
Accounting MethodPurchase
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Market Expansion
Goodwill Generated ($000)1,280,995
Estimated Cost Savings (%)18.00
Estimated Cost Savings ($000)45,000
Est. Restructuring Charges ($000)68,500
Maximum Termination Fee ($000)60,000
Minimum Termination Fee ($000)0
Exchange Ratio (Common For Common)NA
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)124,100
Additional Deal Information
Post-Completion
Year
Deal
Accretive?
Earnings
Accretion(%)
Earnings
Accretion($)
Est. Cost
Savings(%)
Est. Cost
Savings($000)
1Dilutive(4.10)NA922,500
2Accretive1.60NA1845,000
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesLehman Brothers Inc.
SellerYesGoldman Sachs & Co. LLC

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesPillsbury Winthrop Shaw
SellerYesSullivan & Cromwell LLP

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