Synovus (SNV) Dives 12.5% on $8.6-Billion Merger with Pinnacle

We recently published These 10 Stocks Have Collapsed. Synovus Financial Corp. (NYSE:SNV) is one of the worst-performing stocks on Friday.

Synovus Financial fell by 12.54 percent on Friday to close at $49.61 apiece, its third consecutive day, as investors turned cautious over its planned $8.6-billion all-stock merger with Pinnacle Financial Partners, Inc. (NASDAQ:PNFP).

Under the transaction, shares of Synovus and Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share.

Synovus (SNV) Dives 12.5% on $8.6-Billion Merger with Pinnacle

Source: Unsplash

Synovus Financial Corp. (NYSE:SNV) Chairman, CEO and President Kevin Blair will serve as the combined entity’s president and CEO; while Terry Turner, president and CEO of Pinnacle, will serve as the chairman of the combined entity’s board of directors.

The companies said they expect the transaction to close in the first quarter of 2026, subject to regulatory and both companies’ shareholders’ approvals.

While we acknowledge the risk and potential of SNV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNV and that has 10,000% upside potential, check out our report about this cheapest AI stock.