Troutman Sanders Advises Union Bankshares Corporation on $701 Million Acquisition
RICHMOND, VA., May 23, 2017 – Troutman Sanders LLP announced today that it is serving as legal advisor to Union Bankshares Corporation, Richmond, Virginia, in connection with the acquisition of Xenith Bankshares,
Inc., Richmond, Virginia, in an all-stock transaction valued at $701 million.
The transaction, which is expected to close early next year, will result in the creation of Virginia’s largest community bank with combined assets in excess of $11.9 billion. The acquisition will also allow Union to expand
its branch presence in the Hampton Roads market as well as in Northern Virginia, North Carolina and Maryland.
Troutman Sanders attorneys Jake Lutz, Mason Bayler, Seth Winter, Lynda Crouse and Robert Friedman led the team advising Union. Detailed information about the deal can be found here.
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