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).
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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.
SOURCE Patton Boggs LLP