WASHINGTON and DALLAS, Aug. 8, 2013 /PRNewswire/ -- The law firm of Patton Boggs LLP provided legal counsel to Collin Bank of Plano, Texas, on a definitive agreement outlining the terms of its acquisition by Independent Bank Group, Inc. (Nasdaq: IBTX).
The merger has been approved by the boards of directors of both companies and is expected to close during the fourth quarter of 2013. Operational integration is anticipated to begin during the first quarter of 2014. The acquisition is the first for Independent Bank Group since its IPO earlier this year.
Collin Bank shareholders will receive approximately $10.00 per share for each outstanding share of Collin Bank common stock. Approximately 65 percent of the consideration is payable in cash and 35 percent is payable in shares of Independent Bank Group common stock, subject to certain adjustments.David Teeples of Patton Boggs' Dallas office and Jonathan Pavony of the firm's Washington office headed the Patton Boggs team. Both are members of the firm's Banking and Financial Services and M&A practice groups. About Patton Boggs LLP Patton Boggs is a leader in public policy, litigation and business law, and is well-known for deep roots in the political arena. The firm's core practice areas are government relations and lobbying, administrative and regulatory, commercial and transactional, litigation and dispute resolution, intellectual property and international law. From offices in Washington DC, New York, New Jersey, Dallas, Denver and Anchorage, and internationally in Abu Dhabi, Doha, Dubai and an affiliate office in Riyadh, more than 500 lawyers and professionals provide comprehensive, practical legal counsel to clients around the globe. For more information about the firm or its attorneys, visit www.pattonboggs.com.