(Read more on the debt and equitymarkets.)
BIRMINGHAM, AL-RBC Centura Banks Inc. a wholly owned subsidiaryof the Royal Bank of Canada, is preparing to acquire AlabamaNational BanCorp. The $1.6-billion deal is expected to close inearly 2008.
Upon closing, shareholders of the Birmingham-headquarteredAlabama National BanCorp. will receive $80 per share, payableeither in cash, RBC shares or both. According to the agreement, RBCCentura will acquire Alabama National's 11 bank subsidiaries with103 banking centers, eight mortgage/loan offices and 124 ATMs. Asof June 30, ANB had assets of $7.9 billion, deposit balances of$5.8 billion and loans of $5.7 billion. When the deal closes, RBCCentura will have more than $33 billion in assets and 85 locationsin Alabama, 89 in Florida and 68 in Georgia.
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