Atlantic Union Bankshares To Purchase Sandy Spring Bancorp For $1.6B, Creating $39B Regional Banking Powerhouse – Sandy Spring Bancorp (NASDAQ:SASR), Atlantic Union Bankshares (NYSE:AUB)

Atlantic Union Bankshares Corp AUB has introduced its acquisition of Sandy Spring Bancorp Inc SASR for $1.6 billion, marking the fourth regional financial institution deal exceeding $1 billion this 12 months.

What Occurred: The all-stock transaction will improve Atlantic Union’s presence in Northern Virginia and Maryland, making a regional powerhouse with $39.2 billion in belongings, Reuters reported.

Sandy Spring shareholders will obtain 0.90 shares of Atlantic for every share held, valuing Sandy Spring at $34.93 per share, a 7.1% premium. The deal is predicted to spice up Atlantic’s earnings per share by 23% by the top of 2026, with completion anticipated by the third quarter of 2025.

Value Motion: Atlantic Union Bankshares closed at $36.81 on Wednesday, gaining 1.02% through the day. 12 months so far, the inventory has risen by 0.99%. In the meantime, Sandy Spring Bancorp inventory completed at $32.36 on the identical day, up 1.00%. 12 months so far, Sandy Spring has seen a rise of 18.27%, in accordance with knowledge from Benzinga Professional.

Learn Subsequent:

Picture By way of Shutterstock

This story was generated utilizing Benzinga Neuro and edited by Kaustubh Bagalkote