Summary
This 8-K filing from US BancORP \DE\ (USB) on March 11, 2001, primarily reports the consummation of a merger with Firstar Corporation, which occurred on February 27, 2001. The filing details the exchange ratios for the common stock of both companies, with Firstar Corporation merging into US BancORP, and US BancORP being the surviving entity. This transaction represents a significant consolidation within the banking sector. Investors should note that the filing includes pro forma combined financial statements, providing a look at the expected financial performance and position of the combined entity. The detailed audited financial statements for Firstar Corporation are expected to be filed by amendment shortly. This merger is a material event that will impact the scale and operations of US BancORP.
Key Highlights
- 1US BancORP \DE\ completed its merger with Firstar Corporation on February 27, 2001.
- 2Firstar Corporation merged into US BancORP, with US BancORP surviving as the combined entity.
- 3Existing US BancORP shareholders will receive approximately 1.265 shares of the surviving entity's common stock for each share held.
- 4Firstar Corporation shareholders will receive one share of the surviving entity's common stock for each share held.
- 5The combined entity is expected to issue approximately 1,011,736,039 shares to former Firstar shareholders and approximately 1,026,365,684 shares to former US BancORP shareholders.
- 6The filing includes unaudited pro forma combined financial statements for the combined company.
- 7Audited financial statements for Firstar Corporation will be filed by amendment no later than March 16, 2001.