United Bankshares to buy Carolina Financial for $1.1 bln

United Bankshares

18/11/2019 12:03

Nov 18 (Reuters) - United Bankshares Inc  UBSI.O , owner of
United Bank, said on Monday it would buy CresCom Bank parent
Carolina Financial Corp  CARO.O  in a deal valued at $1.1
billion.
    Carolina shareholders will receive 1.13 United shares for
each share they hold, the companies said in a statement. (https://reut.rs/2Otne0W)
    The deal, expected to close in the second quarter of 2020,
will create an entity with about $25 billion in assets.    

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