March 7, 2017 / 1:46 PM / 5 months ago

Sterling Bancorp to buy Astoria Financial for $2.2 bln

March 7 (Reuters) - Sterling Bancorp said on Tuesday it would buy Astoria Financial Corp in an all-stock deal valued at about $2.2 billion to create the sixth largest regional bank in the New York City area by deposits.

Sterling's offer price of $21.92 per share represents a premium of 18.6 percent to Astoria's Monday closing price. (Reporting by Nikhil Subba in Bengaluru; Editing by Sai Sachin Ravikumar)

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