United Bankshares Expands Into Atlanta With Piedmont Bancorp Acquisition, Eyes $267M Deal

Benzinga05-11

United Bankshares, Inc. (NASDAQ:UBSI) announced on Friday that it entered into a definitive merger agreement under which United would acquire Piedmont Bancorp. The exchange ratio will be fixed at ...

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Adams Jr., CEO of United Bankshares.The combined organization will have more than $32 billion in assets and a network of over 240 locations across eight states and Washington, D.C.Piedmont, headquartered in Peachtree Corners, Georgia, has assets of approximately $2.1 billion and 16 locations.UBSI Price Action:United Bankshares shares are trading higher by 0.011% to $46.77 at last check Friday.This article United Bankshares Expands Into ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF","TQQQ":"纳指三倍做多ETF","QID":"纳指两倍做空ETF","BK4211":"区域性银行","QABA":"First Trust NASDAQ ABA Community","UBSI":"联合银行","QLD":"纳指两倍做多ETF","QQQ":"纳指100ETF",".IXIC":"NASDAQ Composite"},"translate_title":"联合银行通过收购Piedmont Bancorp扩展到亚特兰大，着眼于2.67亿美元的交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QABA":1,"UBSI":1,".IXIC":0.82,"MNQmain":0.6,"NQmain":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,"TQQQ":0.6},"content_text":"United Bankshares, Inc. (NASDAQ:UBSI) announced on Friday that it entered into a definitive merger agreement under which United would acquire Piedmont Bancorp. \nThe exchange ratio will be fixed at 0.300 of United’s shares for each share of Piedmont, resulting in an aggregate transaction value of approximately $267 million.\nThe merger will strengthen United’s position in the Mid-Atlantic and Southeast.\n“The greater Atlanta area is the perfect addition to UBSI’s footprint, and we look forward to being a part of the vibrant and fast-growing communities there,” said Richard M. Adams Jr., CEO of United Bankshares.\nThe combined organization will have more than $32 billion in assets and a network of over 240 locations across eight states and Washington, D.C.\nPiedmont, headquartered in Peachtree Corners, Georgia, has assets of approximately $2.1 billion and 16 locations.\nThe merger is expected to close late in the fourth quarter of 2024 or early in the first quarter of 2025.\nAccording to Benzinga Pro, UBSI stock has gained over 18% in the past year. Investors can gain exposure to the stock via First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:QABA).\nUBSI Price Action: United Bankshares shares are trading higher by 0.011% to $46.77 at last check Friday.\nRead Next: What’s Going On With Visa Shares Today\nPhoto: Shutterstock\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nThis article United Bankshares Expands Into Atlanta With Piedmont Bancorp Acquisition, Eyes $267M Deal originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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