Atlantic Union Bankshares to buy Sandy Spring Bancorp in $1.6 billion deal [Yahoo! Finance Canada]
Stifel Financial Corporation (SF)
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Source: Yahoo! Finance Canada
Sandy Spring shareholders will receive 0.900 shares of Atlantic Union for each held, valuing the lender at $34.93 apiece based on Atlantic's last close. The offer represents a 7.1% premium to Sandy Spring's last close. Sandy Spring shares rose 3% in premarket trading. The deal is expected to close by the end of third quarter of 2025. Morgan Stanley and Davis Polk advised Atlantic Union, while Keefe, Bruyette & Woods and Kilpatrick Townsend & Stockton advised Sandy Spring. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar) Recommended Stories
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