
Pinnacle Financial Partners (NASDAQ: PNFP) related to its merger with Synovus Financial Corp. Upon the terms of the proposed transaction, the shares of Synovus and Pinnacle shareholders will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. Upon closing of the proposed transaction, Pinnacle shareholders will own approximately 51.5% of the combined company.