| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Atlantic Union Bankshares Corp (NYSE:AUB) has announced its acquisition of Sandy Spring Bancorp Inc (NASDAQ:SASR) for $1.6 billion, marking the fourth regional bank deal exceeding $1 billion this year.
What Happened: The all-stock transaction will enhance Atlantic Union’s presence in Northern Virginia and Maryland, creating a regional powerhouse with $39.2 billion in assets, Reuters reported.
Sandy Spring shareholders will receive 0.90 shares of Atlantic for each share held, valuing Sandy Spring at $34.93 per share, a 7.1% premium. The deal is expected to boost Atlantic’s earnings per share by 23% by the end of 2026, with completion anticipated by the third quarter of 2025.
Price Action: Atlantic Union Bankshares closed at $36.81 on Wednesday, gaining 1.02% during the day. Year to date, the stock has risen by 0.99%. Meanwhile, Sandy Spring Bancorp stock finished at $32.36 on the same day, up 1.00%. Year to date, Sandy Spring has seen an increase of 18.27%, according to data from Benzinga Pro.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
