US-based financial institutions Pinnacle and Synovus have agreed to merge in a deal worth approximately $8.6 billion. The proposed merger aims to create a regional bank with operations spanning across the southeastern United States. However, investors have expressed concerns about the move, citing potential regulatory challenges and decreased competition.
Source: https://www.barrons.com/articles/synovus-pinnacle-stock-regional-bank-deal-merger-0e67a1e6