Burke & Herbert Financial Services And Summit Financial Group Announce Merger Of Equals; Deal Valued At Approximately $371.5M Or $25.20 Per Share Of Summit Common Stock
Portfolio Pulse from Benzinga Newsdesk
Burke & Herbert Financial Services and Summit Financial Group have announced a merger of equals. The deal is valued at approximately $371.5 million or $25.20 per share of Summit common stock.
August 24, 2023 | 8:46 pm
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POSITIVE IMPACT
Burke & Herbert Financial Services is merging with Summit Financial Group. The deal could potentially increase the value of BHRB's assets.
Mergers often lead to an increase in the value of the companies involved due to synergies and increased market share. This could potentially lead to an increase in the value of BHRB's assets.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Summit Financial Group is merging with Burke & Herbert Financial Services. The deal is valued at $25.20 per share of Summit common stock.
The merger deal is valued at $25.20 per share of Summit common stock, which could potentially lead to an increase in the value of SMMF's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100