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
—
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 (212) 403-1000”
- · 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 (214) 855-8000”
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, 2026this filing
Prosperity Bancshares to acquire Stellar Bancorp for ~$2.0B in mixed consideration
- Apr 24, 2026
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 | vote_scheduled |
| 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. has agreed to acquire Stellar Bancorp, Inc. in an all-stock and cash transaction pursuant to a merger agreement dated January 27, 2026. Stellar shareholders will receive $11.36 per share in cash plus 0.3803 shares of Prosperity common stock per share owned, representing approximately $39.08 in total value per share and $2.0 billion on an aggregate basis based on Prosperity's closing price of $72.90 on January 27, 2026. The transaction requires approval by Stellar shareholders at a special meeting to be held at Stellar's headquarters in Houston, Texas.