Brief: Sandy Spring Bancorp To Buy Revere Bank

Sandy Spring Bancorp

24/09/2019 12:23

Sept 24 (Reuters) - Sandy Spring Bancorp Inc  SASR.O :
    * SANDY SPRING BANCORP TO ACQUIRE REVERE BANK
    * SANDY SPRING BANCORP INC - REVERE SHAREHOLDERS WILL
RECEIVE 1.05
SHARES OF SANDY SPRING COMMON STOCK FOR EACH SHARE OF REVERE
COMMON STOCK.
    * SANDY SPRING BANCORP INC - TRANSACTION, WHICH IS EXPECTED
TO
CLOSE IN Q1 OF 2020, HAS A VALUE OF $460.7 MILLION IN AGGREGATE
    * SANDY SPRING BANCORP INC - UPON CLOSING, SANDY SPRING
SHAREHOLDERS WILL OWN APPROXIMATELY 74% OF COMBINED COMPANY
    * SANDY SPRING BANCORP - AT LATER DATE, REVERE'S BRANDING TO
CHANGE TO SANDY SPRING BANK, WITH FULL CONVERSION OF SYSTEMS
EXPECTED TO OCCUR IN MID-2020

Source text for Eikon:  ID:nGNXbMb8k5 
Further company coverage:  SASR.O 

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