Atlantic Union Bankshares (AUB) said Tuesday it has completed its previously announced acquisition of Sandy Spring Bancorp (SASR) for a total transaction value of roughly $1.3 billion.
Under the terms of the agreement, which was first announced in October, each Sandy Spring common share was converted into the right to receive 0.900 shares of Atlantic Union common stock, the bank holding firm said.
Sandy Spring's Sandy Spring Bank unit was merged into Atlantic Union Bank, the company said.
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