Merger of Union Planters Corporation and Regions Financial Corporation
On Friday, January 23, 2004 Union Planters Corporation and Regions Financial Corporation announced they would merge. This will create the twelfth largest holding company in the United States. This merger was deemed the merger of equals (Hillard, 1/26/2004, para. 2). The stockholders of both companies overwhelming voted for the merger on June 8, 2004 (Morgan, 6/17/2004, para. 2). On June 17, 2004 the merger received approval from the Federal Reserve, the last of the governmental approvals needed (Morgan, 6/17/2004, para. 1). The merger effective date was July 1, 2004, when the Union Planters stock symbol ceased to exist (Morgan, 6/17/2004, para. 5).
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Regions’ is a member of Forbes and Fortune 500 (Morgan, 1/23/04, para. 17). Regions revenues also declined 8.44% from 2002 to 2003. Their net income increase 5.15% between 2003 and 2004. Regions three year compounded annual growth for net income was .09% and .04% for five years (Thompson, 12/2003-5/2004). Regions also does not have a good track record of integrating their mergers (Goldberg, Jason, 1/26/2004, para. 20). Profit growth for Regions lagged behind the industry average in 2003 (1/24/2004, para. 1).
Both banks are similar in size, corporate culture, and operations. There is very little overlap of their branches. Regions and Union Planters have a total of 1,383 branches in fourteen states. As you can see from the table below, Regions and Union Planters only have overlapping branches in six states. Tennessee creates the biggest challenge for consolidation with seventy-two branches in twelve cities. However, consolidation of branches in large cities such as Memphis, Tennessee may not be a problem. Depending on where each branch is located, the closing of branches may be minimal. This is a very important factor when companies merge due to job loss and moral. Hopefully most of the jobs losses will be through attrition and if jobs must be eliminated then it should be minimal. The new regions bank expects to increase opportunities for their employees (Jeter, 2/09/2004).
Regions Financial Corporation and Union
The first half of the nineteenth century in the United States of America was a time of tremendous change for the nation. Firstly, change began as Thomas Jefferson was elected president, which meant the beginning of the Democratic-Republicans reign in office. But this development of the modern United States led not to a unified nation, yet it led to one divided. The expansion and development of ideas and land exposed great regional differences in the United States between 1800 and 1848. Jefferson’s Louisiana Purchase had not only provided the country with land to farm, but it had doubled the size of the United States. Decisions over what to do with the new land separated the country. This is clearly seen in disputes concerning the United States’
In the early 1800s, America changed in a lot of ways in a short amount of time. The change that occurred was, for the most part, the result of the industrial development. The industrial advancements in the early 1800s had a huge amount of consequences, both positive and negative. But the industrial development from 1800 to 1860 affected the North and the South in hugely different ways. The prominent differences eventually caused an amazing amount of tension between the two regions as they moved in completely separate directions. Mainly, the North and the South differentiated when it came to cultures, economies, and political views.
During the period of 1820-1861 the north and south debated on issues that dealt with slavery and unbalance power, in order to reduce sectional tension between these two states, the Missouri Compromise, Compromise of 1850, and the Kansas-Nebraska Act were proposed.
During the Age of Jackson, America was still trying to find it’s definite identity. America was making progress, but they were not where they wanted to be yet. The sense of optimism and ongoing expansion during the early 19th century that helped to bring America together for a period both contributed to a time of happiness and breakthroughs in which America is trying to be defined as a happy and thriving nation. The rise of democracy coupled with the the gradual political process, both magnify the degree to which America was still trying to find themselves politically. The rise of sectionalism and decline of nationalism point to the once wavering aura of togetherness and separateness and now complete dominance of sectionalism. These
In the mid-1800's, many events occurred that increased sectional tension between the Northern and Southern states of the Union. These tensions ultimately resulted in the outbreak of civil war. One thing in particular that is considered to be a source of sectional discord is the U.S. Constitution. However the Constitution itself was not a source of sectional tension that caused the failure of the Union. The failure erupted generally from the issue of slavery. combination of the people in general and the differences in economic styles that lead to the downfall. Poor political decisions such as the Kansas Nebraska Act, lead to bad decisions which worsened the tensions of the union. The economic differences ultimately lead to the Civil War
Southern expansionism took on many forms in the United States between the years 1789 and 1860. Examining southern history for these years shows how slave-grown cotton played a major factor in southern expansion, specifically through the issues of the Louisiana Purchase, soil erosion, the desires of yeoman farmers and planters, Indian removal, the interstate slave trade, the independence movement in Texas, the Mexican War, filibusters in Central America, and especially concerning relations between the southern and northern states. However, southern history shows us that while the growth of southern cotton did in fact play a large role in the rationale for expansion, but there are other concerns involved here. Most notably, the constant dilemma of the slave to free state representation in Congress additionally played a large role in why so many southerners decided to pack up and head west. These two reasons can be explained as the two most primary concerns involving the sudden growth of southern expansion. Despite cotton being one of the major factors that led to southern expansion, it can be proven by examining southern history that the constant struggle between northerners and southerners to balance the ratio of slave to free states in Congress additionally played into expansion.
The Ohio Valley Region was known as the American frontier during the time period from 1760 to 1813. The white expansion into the Ohio Valley Region brought about the decline and the eventual dissolution of the Native American way of life. The struggles of the French and English in the north and the westward push of American settlers in the south were met with unified pro-nativist resistance. The individual struggles of three men characterize the turmoil between whites and Native Americans. Pontiac’s war against the English, Tecumseh’s organization of a unified Indian Confederation, and Daniel Boone’s leadership in the western migration into Kentucky demonstrate the fight for control in the Ohio
During the years of 1820-1860, the United States split into Northern and Southern factions. Each side held completely opposing viewpoints on issues affecting the nation. Compromise was made almost impossible by 1860 due to disagreement over states rights. Eventually, a breakdown of trust between both parties on each side that led to a collapse of compromise due to one of an important main issue, slavery. American citizens, despite constant thoughts of compromise, could not resolve their political disputes. Through conflicts towards the issue of slavery to saving the Union itself, their disputes refused any intention of compromise and would eventually lead to the start of the Civil War.
The United States hotly protested Stalin’s action in Poland, East Germany and the rest of Eastern Europe as a violation of the “one world” principle of the Atlantic Charter and a departure from the agreement reached at Yalta and Potsdam. Why did the Sovient Union act this way?
Territorial expansion impacted national unity socially, economically and politically. As new settlers and immigrants came to America, the need for land grew, forcing people westward. People of different backgrounds migrated and settled among each other, creating new and diverse communities. As the west became more inhabited, the government became involved and decided which states would become slave states and which states would become free states. The new states and territories created more room for political differences among citizens. Economically, it made sense to move westward, where there was more land for farming. Farmers that had more land could grow more cotton and own more slaves. The production of cotton benefited the country greatly
A compromise is an agreement made by two sides each making concessions. The compromises of the nineteenth century were ultimately perfidies. The North had constantly given into the South’s desires. Although the North was able to give the South what they requested, this eventually led to the secession of the South. Two main compromises that lead the South to gain more power included the Missouri Compromise of 1820, and the Tariff of 1833 due to the North and South’s dispute on slavery since the framing of the constitution.
In efforts to better understand the Civil War most historians examine the Sectional Crisis and the Compromise of 1850 in the decades leading up to the worst years in American History. Some historians prefer to focus on the underlying theme of the war, others tightly examine individual leaders, events, and political parties, connecting them all together like puzzle pieces to define the years prior to the war. Despite the contrasting views, it is clear to realize the constant prevailing issues of the Antebellum Period, the Sectional Crisis and the Compromise of 1850. In particular, the Compromise of 1850 is deceivingly taught as only establishing 3 pivotal elements: the status of slavery in future territories (popular sovereignty), California statehood, and the fugitive slave law. Granted these elements of the compromise provide a great amount of controversy long after their birth, but one element of the compromise perceives to fail in obtaining recognition. The Texas-New Mexico boundary resolution seems to find itself fading away from its relevancy to the civil war, shadowed by more prominent issues regarding the stability of the Union. Abandoning the traditional teaching of the compromise, the Texas-New Mexico border decision figuratively and literally changed the identity of Texas. This was the long awaited result caused by deep rooted social and political issues dating back to the Texas Revolution.
This is where the money is and the growth is. Their consolidation will in essence allow us to lessen the breadth of our dealer coverage and allow us to focus our sales effort in this high growth area.
A merger is a partial or total combination of two separate business firms and forming of a new one. There are predominantly two kinds of mergers: partial and complete. Partial merger usually involves the combination of joint ventures and inter-corporate stock purchases. Complete mergers are results in blending of identities and the creation of a single succeeding firm. (Hicks, 2012, p 491). Mergers in the healthcare sector, particularly horizontal hospital mergers wherein two or more hospitals merge into a single corporation, are increasing both in frequency and importance. (Gaughan, 2002). This paper is an attempt to study the impact of the merger of two competing healthcare organization and will also attempt to propose appropriate
Question 1 Several factors have been proposed as providing a rationale for mergers. Among the more prominent ones are (1) tax considerations, (2) diversification, (3)