Atlantic Union Bankshares Corporation (Atlantic Union) recently completed its previously announced merger with Sandy Spring Bancorp Inc. (Sandy Spring).
This transaction strengthens Atlantic Union’s presence in Virginia and Maryland and creates the largest regional banking franchise headquartered in the lower Mid-Atlantic.
Under the terms of the merger agreement, each share of Sandy Spring common stock was converted into the right to receive 0.900 shares of Atlantic Union common stock, with cash to be paid in lieu of fractional shares. Based on the closing price of Atlantic Union common stock of $31.14 on Monday, March 31, the aggregate transaction value was approximately $1.3 billion.
“We are excited to have the Sandy Spring team….
