Simpson Thacher is representing WaFd, Inc. in connection with its strategic combination with EverBank Financial Corp to form a $75 billion bank. Upon completion of the transaction, the EverBank investors, which include funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management, along with TIAA, will collectively own approximately 59.2% of the pro forma combined company, with WaFd shareholders owning approximately 40.8%. The merger is expected to close in early 2027, subject to regulatory approval and WaFd shareholder approval. Following the closing of the merger, the combined company is expected to have approximately $75 billion in assets, $58 billion in total loans and $59 billion in total deposits across 254 branches.
The Simpson Thacher team includes Lee Meyerson, Ravi Purushotham, Louis Argentieri, Joseph Pucciarelli and Diobel Rodriguez (FIG M&A); Amanda Allexon (Bank Regulatory); Jeannine McSweeney, Ryan Stott, Giulia La Scala and Shivani Motamarri (Executive Compensation and Employee Benefits); Lesley Peng, Edgar Lewandowski, Jonathan Lindabury and Nora Ghanem (Capital Markets); Jonathan Goldstein and Lina Pan (Tax); Caroline Geiger, Dewey Kang and Alexander Kokka (Intellectual Property); Carleigh Rodriguez and Shefain Islam (Environmental); and Krista McManus (Real Estate).