EverBank Financial (EVER) Misses Q2 EPS by 21c; Enters Acquisition Agreement at $19.50/Share

EverBank Financial (NYSE: EVER) reported Q2 EPS of $0.15, $0.21 worse than the analyst estimate of $0.36.

The Company also announced today that as a result of an ongoing review of its strategic alternatives it is in advanced negotiations with a well-respected financial services company regarding a transaction in which EverBank Financial Corp would be acquired and EverBank Financial Corp's common stockholders would receive $19.50 per share in cash. In addition, the transaction contemplates that each share of EverBank Financial Corp's Series A Preferred Stock would receive cash in an amount equal to the liquidation preference plus accrued and unpaid dividends. There can be no certainty that these negotiations will result in a definitive agreement or that the terms will not vary from those currently under discussion or that the review of EverBank Financial Corp's other strategic alternatives will result in any action. The Company does not intend to make any additional comments or statements regarding these matters until such time, if at all, that it has reached a definitive agreement for a transaction. EverBank Financial Corp further noted that it had entered into an agreement with the financial services company to negotiate exclusively with it regarding a transaction and such exclusivity agreement expires at 11:59 p.m. on August 8. In light of the foregoing, the Company will not conduct its previously scheduled conference call to discuss second quarter 2016 results.

For earnings history and earnings-related data on EverBank Financial (EVER) click here.

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