Shares of the branchless bank Tristate Capital Holdings (NASDAQ: TSC) had shot up more than 30% as of 11 a.m. EDT Thursday after the company announced it will be acquired by Raymond James Financial (NYSE: RJF). Raymond James announced it plans to purchase Tristate in a part stock, part cash transaction valued at $1.1 billion. The total consideration for each Tristate shareholder is $31.09.
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