EverBank Financial Corp. confirmed Tuesday morning that “it is in advanced negotiations with a well-respected financial services company” for a possible $2.4 billion buyout.
The Jacksonville-based banking company said the financial services company would pay $19.50 a share to buy EverBank, 26 percent higher than EverBank’s closing stock price on Friday.
EverBank’s stock rose $2.06 Monday to $17.56 after Bloomberg News reported the company was in negotiations with an unnamed suitor.
EverBank said it is in exclusive negotiations with the potential buyer through Aug. 8, but there is no certainty there will be an agreement, and the company officials said they cannot discuss the deal until its final.
"I heard about it on the news this morning. I was a little surprise, because EverBank has a big presence here. We have a big football field named with a name on it, we have the building we work in, and it's a landmark," said Patti Estes, who works for another company in the EverBank building in downtown Jacksonville.
In a press release, EverBank announced Tuesday that the possible deal is "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."
EverBank also reported Tuesday that second-quarter adjusted earnings of 32 cents a share, 3 cents lower than last year’s second quarter and 4 cents lower than the average analysts’ forecast, according to Thomson Financial.
EverBank's second-quarter report also highlighted total assets at $27.4 billion, with an increase of 13 percent year over year.
The company had been scheduled to release its financial results Wednesday, but apparently moved up the release after news of the buyout talks leaked out.
News4Jax reach out Tuesday to the city. It said EverBank has not contacted the city to advise of, or discuss, any plans about sale.
EverBank, which has been in Jacksonville since 1994, bought naming rights to Jacksonville's football stadium in 2010. EverBank told News4Jax that under the 10-year extension of the naming rights, which was announced in July 2014, the agreement will run through the 2024 NFL season.
EverBank has not confirmed if that agreement will remain in place.