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News Breaks | | | | January 30, 2013 | | 08:01 EDT |  | VCBI, UBSI | United Bankshares to acquire Virginia Commerce
United Bankshares (UBSI) Chairman and CEO, Richard M. Adams, announced the signing of a definitive merger agreement with Virginia Commerce Bancorp (VCBI). United will acquire 100% of the outstanding shares of VCBI in exchange for common shares of United. The exchange ratio will be fixed at 0.5442 of United’s shares for each share of VCBI which equates to a deal value of $14.00 per share, or approximately $490.6M in the aggregate, based on United’s ten-day average closing price of $25.73 as of January 29, 2013. The transaction, which has been unanimously approved by both United’s and VCBI’s Boards of Directors, is expected to close in the third quarter of 2013, pending regulatory approvals and the approval of United’s and VCBI’s shareholders. The aggregate consideration of the transaction is approximately $490.6M based on VCBI’s common shares outstanding, plus outstanding options and warrants. The announced price represents a premium of 15% over VCBI’s closing price on January 29, 2013, and 1.82 times VCBI’s tangible book value at December 31, 2012. | |
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News For UBSI;VCBI From The Last 14 Days Check below for free stories on UBSI;VCBI the last two weeks. |
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| June 11, 2013 | | 07:43 EDT |  | UBSI | Sandler O'Neill to host a field trip
Banking Field Trip travels throughout Washington, D.C. to visit with various companies on June 11-12. | | | June 6, 2013 | | 10:01 EDT |  | UBSI | On The Fly: Analyst Downgrade Summary
 Subscribe for More Information | | | 08:26 EDT | | UBSI | United Bankshares downgraded to Neutral from Buy at SunTrust
SunTrust downgraded United Bankshares due to valuation. | |
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