CompletedFinancial Services26 October 2023

Old National Bancorp to acquire CapStar Financial Holdings, Inc.

Verified deal facts, source-backed narrative, and the Exit Mode founder lens for SME readers preparing to sell.

Deal facts

Buyer
Old National Bancorp
Target
CapStar Financial Holdings, Inc.
Deal value
Not disclosed
Announced
26 October 2023
Status
Completed
Sector
Financial Services
Country
United States
Consideration
shares, cash
What we know

Old National Bancorp has agreed to acquire CapStar Financial Holdings, Inc. in a strategic acquisition within the Financial Services sector. The transaction involves a mixed consideration structure comprising both shares and cash, though the specific deal value remains undisclosed. Both entities are based in the United States, facilitating a domestic consolidation of banking operations. The deal was officially completed on 1 April 2024, marking the end of the negotiation phase.

This acquisition allows the buyer to expand its market presence by integrating the target's operations and customer base. The combination of equity and cash consideration suggests a balanced approach to financing the purchase price without relying solely on debt or stock issuance. Regulatory approvals were obtained prior to the finalisation of the transaction. The parties have now moved into the post-merger integration phase to realise the combined entity's operational synergies.

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Deal timeline

1 update
  1. CompletedClosed

    Old National Bancorp completes acquisition of CapStar Financial Holdings, Inc.

    Introductory Note This Current Report on Form 8-K is being filed by Old National Bancorp, an Indiana corporation (“ Old National ”), successor by merger to CapStar Financial Holdings, Inc., a Tennessee corporation (“ CapStar ” or the “ registrant ”) in connection with the closing of the transactions contemplated by that certain Agreement and Plan of Merger (the “ Merger Agreement ”), by and betwee

    Source

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