United Bankshares to buy Carolina Financial for $1.1 bln
Nov 18 (Reuters) - United Bankshares Inc UBSI.O, owner of United Bank, said on Monday it would buy CresCom Bank parent Carolina Financial Corp CARO.O in a deal valued at $1.1 billion.
Carolina shareholders will receive 1.13 United shares for each share they hold, the companies said in a statement. (https://reut.rs/2Otne0W)
The deal, expected to close in the second quarter of 2020, will create an entity with about $25 billion in assets.
(Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D'Silva)
((Bharath.ManjeshR@thomsonreuters.com; outside U.S. +91 80 6749 8400;))