RTTNews | Apr 19, 2021 10:29AM EDT

10:28 Monday, April 19, 2021 (RTTNews.com) - Shares of Webster Financial Corporation (WBS) are down more than 4% Monday morning at $54.53.

Webster Financial and Sterling Bancorp (STL) today announced their decision to merge in an all-stock deal valued at $10.3 billion.

As per the agreement, Sterling will merge into Webster, and Sterling's shareholders will get 0.463 of a Webster share for each Sterling stock they own.

Upon closing, about 50.4% of the combined company will be owned by Webster shareholders and nearly 49.6% by Sterling shareholders.

WBS has been trading in the range of $19.76- $63.81 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3186055/stock-alert-webster-financial-down-on-agreement-to-combine-with-sterling-bancorp.aspx)

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