Synovus Financial Corp. (NYSE:SNV) saw a 12.54% drop on Friday to $49.61 per share, due to investor caution surrounding its $8.6-billion merger with Pinnacle Financial Partners, Inc. (NASDAQ:PNFP). The merger will result in a new Pinnacle parent company, with a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. Synovus Chairman, CEO, and President Kevin Blair will lead the combined entity, while Pinnacle’s President and CEO Terry Turner will be the chairman of the board. The merger is expected to close in Q1 2026 pending regulatory and shareholder approvals.

Read more at Yahoo Finance: Synovus (SNV) Dives 12.5% on $8.6-Billion Merger with Pinnacle