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Bloomberg reported that Umpqua Holdings Corp. is in advanced talks to buy Sterling Financial Corp. said people with knowledge of the discussions.
According to the Bloomberg report, the deal may be valued at about $1.8 billion, said one of the people, who asked not to be named because the process is private. The report also states the talks may still collapse and there’s no guarantee a transaction will occur.
Previously reported on Equipment Finance Advisor on June 5, 2013: Umpqua Bank to Acquire Financial Pacific