Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) saw a 12.10% drop in share price on Friday following the announcement of its $8.6-billion all-stock merger with Synovus Financial Corp. The deal will see a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share, with Synovus’ CEO to lead the combined entity.

The transaction between Pinnacle and Synovus is expected to close in the first quarter of 2026, pending regulatory and shareholders’ approvals. While PNFP shows investment potential, some AI stocks are seen as offering higher returns with limited downside risk. Investors seeking cheap AI stocks can check out a free report on the best short-term AI stock.

Read more at Yahoo Finance: Pinnacle (PNFP) Falls 12% on $8.6-Billion All-Stock Merger with Synovus