Atlantic Union gets shareholder, regulatory approval for massive Sandy Spring acquisition - Richmond BizSense

Atlantic Union and Sandy Spring’s $1.6bn merger deal secure approvals

Atlantic Union Bankshares and Sandy Spring Bancorp have secured shareholders’ and regulatory approvals for the combination of their businesses. The transaction is anticipated to complete on 1 April 2025, contingent on the fulfilment or waiver of standard closing conditions. First announced in October 2024, the deal involves the acquisition of Maryland-based Sandy Spring by Virginia-based Atlantic Union for nearly $1.6bn. Each outstanding share o…

Atlantic Union gets shareholder, regulatory approval for massive Sandy Spring acquisition - Richmond BizSense

The Sandy Spring deal would mark Atlantic Union’s largest ever acquisition. The pending marriage of Richmond’s Atlantic Union Bank and Maryland-based peer Sandy Spring Bank looks to have a clear path to the closing table. The deal, which would create a $39 billion banking behemoth, received approval from shareholders of both companies at special shareholders meetings held Wednesday, they announced. Those shareholder votes, along with recently re…