Pinnacle (PNFP) Falls 12% on $8.6-Billion All-Stock Merger with Synovus

We recently published These 10 Stocks Have Collapsed. Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) is one of the worst-performing stocks on Friday.

Pinnacle fell back below the $100 territory on Friday after six straight days of losses, as investors soured on its planned $8.6-billion all-stock merger with Synovus Financial Corp.

In Friday’s session alone, Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) slashed 12.10 percent of its share price to finish at $91.56 apiece.

Under the transaction, shares of Synovus and Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share.

Additionally, Synovus Chairman, CEO, and President Kevin Blair will serve as the combined entity’s president and CEO, while Terry Turner, president and CEO of Pinnacle, will serve as the chairman of the combined entity’s board of directors.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) said that the transaction is expected to close in the first quarter of 2026, subject to regulatory and shareholders’ approvals.

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