Stellar Bancorp, Inc.
STEL/Prosperity Bancshares, Inc.PBProsperity Bancshares to acquire Stellar Bancorp for ~$2.0B in mixed consideration
Key takeaways
- Prosperity Bancshares, Inc. acquires Stellar Bancorp, Inc. — $2.0B aggregate (mixed).
Deal value
$2.0B
mixed
Per-share offer
—
Premium
—
Days to close
—
Term fee
—
Announced
Apr 24, 2026
Preliminary Proxy
—
Definitive Proxy
—
Record date
—
Shareholder vote
May 27, 2026
Expected close
—
No regulatory or closing-conditions data extracted yet. The merger agreement Exhibit 10.1 contains this in the “Conditions to Closing” and “Regulatory Approvals” articles.
No closing-condition data extracted.
No competing-bidder, activist, or dissident-proxy signals in the database for this target.
Acquirer side· Prosperity Bancshares, Inc.
Legal
Wachtell, Lipton, Rosen & Katz
- · Edward D. Herlihy
- · Matthew T. Carpenter
“Edward D. Herlihy, Esq., Matthew T. Carpenter, Esq., Wachtell, Lipton, Rosen & Katz, 51 West 52nd Street, New York, New York 10019”
- · Michael G. Keeley
- · Blake H. Redwine
- · Evan P. Hardee
“Michael G. Keeley, Esq., Blake H. Redwine, Esq., Evan P. Hardee, Esq., Norton Rose Fulbright US LLP, 2200 Ross Avenue, Suite 3600, Dallas, Texas 75201”
Target side· Stellar Bancorp, Inc.
None on record
| Firm | Role | Side | Deals in DB | |
|---|---|---|---|---|
| Wachtell, Lipton, Rosen & Katz | Legal | Acquirer | 3 | View deals → |
| Norton Rose Fulbright US LLP | Legal | Acquirer | 2 | View deals → |
- Apr 24, 2026
Prosperity Bancshares to acquire Stellar Bancorp for ~$2.0B in mixed consideration
- Apr 24, 2026this filing
Prosperity Bancshares to acquire Stellar Bancorp for ~$2.0B in mixed consideration
- Apr 24, 2026
Stellar Bancorp to merge with Prosperity Bancshares for $2.0B
| Date | Form | Section | Headline | Status |
|---|---|---|---|---|
| Apr 24, 2026 | — | definitive | Prosperity Bancshares to acquire Stellar Bancorp for ~$2.0B in mixed consideration | proxy_filed |
| Apr 24, 2026 | — | definitive | Stellar Bancorp to merge with Prosperity Bancshares for $2.0B | vote_scheduled |
| Announced | Target | Acquirer | Value | Consid. | Premium | Term Fee % |
|---|---|---|---|---|---|---|
| Apr 24, 2026 | Stellar Bancorp, Inc.(STEL) | Prosperity Bancshares, Inc. | $2.0B | mixed | — | — |
| Apr 24, 2026 | Stellar Bancorp, Inc.(STEL) | Prosperity Bancshares, Inc. | $2.0B | mixed | — | — |
| Apr 24, 2026 | BOXABL Inc. | FG Merger II Corp. | $3.5B | mixed | — | — |
| May 1, 2026 | Esperion Therapeutics, Inc.(ESPR) | ARCHIMED | $1.1B | mixed | +58.0% | — |
| May 1, 2026 | Esperion Therapeutics, Inc.(ESPR) | ARCHIMED | $1.1B | mixed | +58.0% | — |
| May 1, 2026 | Resulticks Global Companies Pte Limited | Diginex Limited | $1.5B | stock | — | — |
| May 1, 2026 | Resulticks Global Companies Pte Limited | Diginex Limited | $1.5B | stock | — | — |
| Apr 24, 2026 | Enhabit, Inc.(EHAB) | Kinderhook Industries, LLC (via Anchor Parent, LLC and Anchor Merger Sub, Inc.) | $1.4B | cash | +33.8% | — |
| Apr 24, 2026 | Enviri Corporation | Veolia Environnement S.A. | $3.0B | cash | — | — |
| Apr 24, 2026 | CoinShares International Limited | Vine Hill Capital Investment Corp. | $1.2B | stock | — | — |
Prosperity Bancshares, Inc. is acquiring Stellar Bancorp, Inc. in an all-stock and cash transaction valued at approximately $2.0 billion based on Prosperity's stock price on January 27, 2026. Stellar shareholders will receive $11.36 in cash per share plus 0.3803 shares of Prosperity common stock per Stellar share owned, representing approximately $39.08 in aggregate value per share. The merger has been approved by both boards and is subject to Stellar shareholder approval at a special meeting scheduled for May 27, 2026.