September 9, 2013 / 6:34 PM / in 4 years

Umpqua Holdings in talks to buy Sterling Financial for about $1.8 billion: report

(Reuters) - Umpqua Holdings Corp (UMPQ.O) is in advanced talks to buy private equity-backed Sterling Financial Corp STSA.O in a deal that may be valued at about $1.8 billion, Bloomberg reported on Monday, citing people with knowledge of the discussions.

The talks may still collapse and there's no guarantee a transaction will occur, the report said. (

    Spokane-based Sterling Financial is backed by Warburg Pincus LLC and Thomas H Lee Partners LP, which each own about 21 percent of the lender, according to Thomson Reuters data.

    Umpqua Holdings shares rose 7 percent to $17.36, while Sterling Financial shares were up 4 percent at $27.90 in afternoon trading on the Nasdaq on Monday.

    Reporting by Aman Shah in Bangalore

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below