Atlantic Union Bankshares To Acquire Sandy Spring Bancorp For $1.6B, Creating $39B Regional Banking Powerhouse
Portfolio Pulse from Benzinga Neuro
Atlantic Union Bankshares is acquiring Sandy Spring Bancorp for $1.6 billion in an all-stock transaction, creating a regional banking powerhouse with $39.2 billion in assets. The deal offers a 7.1% premium to Sandy Spring shareholders and is expected to boost Atlantic's earnings per share by 23% by 2026.
October 24, 2024 | 5:09 am
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Atlantic Union Bankshares is acquiring Sandy Spring Bancorp for $1.6 billion, enhancing its presence in Northern Virginia and Maryland. The deal is expected to boost Atlantic's earnings per share by 23% by 2026.
The acquisition will significantly expand Atlantic Union's market presence and is expected to enhance earnings per share, which is positive for the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Sandy Spring Bancorp is being acquired by Atlantic Union Bankshares for $1.6 billion, offering a 7.1% premium to its shareholders. The deal is expected to close by Q3 2025.
The acquisition offers a premium to Sandy Spring shareholders, which is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100