Carolina Financial: Surges on $1.1 bln buyout deal

United Bankshares

18/11/2019 17:08

** Shares of CresCom Bank parent Carolina Financial Corp
 CARO.O  rise 9.2% to $42.2 after United Bankshares offers to
buy co for $44.64/shr, per Reuters calculations 
    ** CARO is set for its best day in over 4 years
    ** Bigger peer United Bankshares Inc  UBSI.O  to buy
Carolina Financial for $1.1 bln; Deal represents a premium of
about 16% to CARA's last close  urn:newsml:reuters.com:*:nL3N27Y0AZ
    ** Shares of UBSI down ~4%, set for worst day in over 6
months
    ** Transaction is expected to close in Q2 2020
    ** CARO has jumped 42% this year, UBSI up 22%

 (Reporting by Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))