Financial services firm TIAA said it would buy U.S. online lender EverBank Financial Corp (EVER.N) for about $2.5 billion to expand its banking services.

EverBank shares rose 2 percent to $19.05 in premarket trading on Monday, below the cash offer price $19.50 per share.

The offer is at a premium of more than 8 percent from the stock’s close on Aug. 2, a day before Reuters reported that TIAA was in advanced talks to acquire EverBank to expand its internet banking services.

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