Atlantic Union Bankshares Corporation announced earlier this month that it has completed its previously announced merger with Sandy Spring Bancorp, Inc. This transaction creates the largest regional banking franchise headquartered in the lower Mid-Atlantic, a release stated.
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.
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