Synovus in its $17 billion all-stock combination with Pinnacle Financial Partners

On July 24, 2025, Synovus Financial Corp. (NYSE: SNV) and Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) announced that they have entered into a definitive agreement to combine in an all-stock transaction that values Synovus at $8.6 billion.  Synovus shareholders will own 48.5% of the combined company, which will operate under the Pinnacle Financial Partners name, be led by Synovus’ CEO and President Kevin Blair and be headquartered in Atlanta.

The transaction creates the fastest-growing, highest return regional bank focused on the highest-growth markets in the Southeast. The landmark combination of Synovus and Pinnacle is one of the largest regional bank transactions of the last decade and will position the combined institution as the 15th largest bank in the US with more than $100 billion in assets, top quartile profitability and an unaffected pro forma market cap of $17 billion.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Synovus.