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News Breaks | | | | January 25, 2013 | | 06:28 EDT |  | UBSH | Union First Market upgraded to Outperform from Neutral at RW Baird
Baird upgraded Union First Market due to valuation, and potential dividend increases and buybacks. Price target raised to $20 from $17. | |
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News For UBSH From The Last 14 Days Check below for free stories on UBSH the last two weeks. |
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| June 13, 2013 | | 10:05 EDT | | UBSH | On The Fly: Analyst Upgrade Summary
 Subscribe for More Information | | | 07:46 EDT | | UBSH | Union First Market upgraded to Outperform from Market Perform at Raymond James
Subscribe for More Information | | | June 10, 2013 | | 16:39 EDT |  | UBSH | On The Fly: Closing Wrap
Subscribe for More Information | | | 09:44 EDT |  | UBSH | Union First Market to host conference call
Subscribe for More Information | | | 08:16 EDT |  | UBSH | Union First Market to acquire StellarOne Corporationfor about $19.50 a share
Union First Market (UBSH) and StellarOne (STEL) announced the signing of a definitive merger agreement, pursuant to which Union will acquire StellarOne, creating the largest community banking institution in the Commonwealth of Virginia. Based on financials reported on March 31, the combined companies would have total assets of $7.1B, deposits of $5.8B and loans of $5.2B. Under the terms of the agreement, common shareholders of StellarOne will receive 0.9739 shares of Union common stock for each share of StellarOne. This implies a deal value per share of $19.50 or approximately $445.1 million in the aggregate based on Union's closing stock price of $20.02 on June 7. In consideration of the merger, extensive due diligence was performed by both companies over a four-week period. Under the proposed terms, the transaction is expected to be accretive to Union's earnings per share in 2014 and thereafter. Further it is anticipated that the transaction will be immediately accretive to Union's capital ratios and result in capital levels well in excess of regulatory minimums. The merger agreement has been unanimously approved by the board of directors of each company. The companies expect to consummate the transaction on or around January 1, 2014, subject to customary closing conditions, including regulatory and shareholder approvals. | |
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