May 22, 2017 / 12:25 PM / 2 months ago

BRIEF-Union Bankshares to acquire Xenith Bankshares

1 Min Read

May 22 (Reuters) - Union Bankshares Corp:

* Union Bankshares Corporation announces agreement to acquire Xenith Bankshares Inc

* Union Bankshares Corp says each outstanding share of Xenith common stock will be converted into right to receive 0.9354 shares of union common stock

* Says Union to acquire Xenith in an all-stock transaction

* Union Bankshares Corp - deal for $29.67 per share

* Union Bankshares Corp - merger agreement has been approved by board of directors of each company

* Union Bankshares Corp - following closing of merger, john asbury will continue as president and ceo of combined organization

* Union Bankshares - following closing of merger, union board to expand to 20 members; 18 members from current union board, 2 members from xenith board

* Union Bankshares Corp - Raymond D Smoot will continue to serve as chairman of board of combined company Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below