Atlantic Union Bankshares down after $1.6 bln deal to acquire Sandy Spring Bancorp

Sandy Spring Bancorp

21/10/2024 15:39

** Shares of Atlantic Union Bankshares  AUB.N  fall 4.92% to
$36.90
    ** Co to acquire Sandy Spring Bancorp  SASR.O  in an
all-stock deal worth $1.6 bln 
    ** Sandy Spring shareholders to receive 0.90 shares of
Atlantic Union common stock, representing a 7.1% premium to
Sandy Spring's last close
    ** Deal to create the largest regional bank headquartered in
the lower Mid-Atlantic with $39.2 bln in assets
    ** 3 of 4 brokerages covering the stock rate it "buy" or
above, and 1 "hold"; their median PT is $43.00
    ** As of last close, stock up ~1.26%, YTD
  

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com;))