Community Bankers Trust jumps on United Bankshares' buyout deal

United Bankshares

03/06/2021 14:05

** Shares of Community Bankers Trust Corp  ESXB.O  jump
27.1% to $11.69 premarket- among top pct gainers across U.S.
exchanges
    ** United Bankshares Inc  UBSI.O  says it will acquire ESXB,
which is the parent company of Essex Bank, in a $303.3 mln deal
 urn:newsml:reuters.com:*:nBwbM1NfTa
    ** Says it will pay 0.3173 of its shares for each share of
ESXB, representing a per share offer price of about $13.06
    ** The combined organization will be about $29 billion in
assets, with nearly 250 locations in some of the most desirable
banking markets in the U.S. - Cos
    ** Deal expected to close in the fourth quarter of 2021  
    ** Shares of UBSI down 5.8% at $38.78 premarket  
    ** Up to last close, ESXB had gained 36.3%, while UBSI up
27% this year

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))