BRIEF-Sandy Spring Bancorp to buy WashingtonFirst Bankshares [Reuters]
WASHINGTONFIRST (WFBI)
US:NASDAQ Investor Relations:
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Source: Reuters
BRIEF-Sandy Spring Bancorp to buy WashingtonFirst Bankshares n"May 16 Sandy Spring Bancorp Inc * Sandy spring bancorp acquisition of washingtonfirstbankshares to create region’s largest, locally-headquarteredcommunity bank * Sandy spring bancorp inc - have entered into a definitiveagreement for sandy spring to acquire virginia-basedwashingtonfirst * Sandy spring bancorp inc says upon closing, sandy springbank will merge washingtonfirst bank into sandy spring bank * Sandy spring bancorp inc says transaction, which isexpected to close in q4, has a value of $489 million inaggregate * Says upon closing, sandy spring shareholders will ownapproximately 67.8% of combined company * Sandy spring bancorp inc - transaction has beenunanimously approved by board of directors of each company * Sandy spring bancorp - washingtonfirst shareholders areexpected to receive 0.8713 shares of co's stock for each shareowned of washingtonfirst common stock * Says upon closing, washingtonfirst's shareholders
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