Report: Sterling Bancshares Puts Itself Up For Sale
Sterling Bancshares (NASDAQ:SBIB) is shopping itself to potential bidders and could announce a deal as soon as the end of January, according to reports.
According to dealReporter, a financial newswire owned by the Financial Times, the bank holding company has hired Morgan Stanley (MS) and potential bidders for Sterling include North Carolina-based BB&T Corp. (BBT).
Shares of Sterling rose two cents on Tuesday, or a fraction of 1%, to close the session at $7.24 per share. The stock was up another 28 cents or nearly 4% in after-hours trading.
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