Union Bankshares Corp. Prices $301M Secondary Offering
Troutman Sanders is mentioned in a Law360 story, “Union Bankshares Corp. Prices $301M Secondary Offering.” According to the story, “Union Bankshares, which is the parent to Union Bank & Trust, one of the largest community banks in Virginia, said private equity shareholders ACMO-HR LLC and Carlyle Financial Services Harbor LP each agreed to sell their roughly 3.97 million Union common stock shares for $38 per share.” The secondary offering comes less than one month after the company completed its acquisition of Xenith Bankshares Inc. According to the story, “The deal has been part of a broader wave of consolidation in the banking industry, where stronger stock market valuations have contributed to a favorable environment for mergers-and-acquisitions activity.” Richmond attorneys Mark Jones, Jake Lutz, Betty Segaar, Dan Howell and Seth Winter led the team advising Union.