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September 12, 1995 | From Times Wire Services
UJB Financial Corp. and Summit Bancorp said Monday that they agreed to merge in a $1.2-billion stock transaction that will create the second-biggest bank in New Jersey. The combination is the latest in a string of mergers and acquisitions in the banking industry, including two previous big transactions involving major New Jersey banks. Under the agreement, approved Sunday by the boards of both companies, Summit shareholders will receive 0.
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BUSINESS
September 12, 1995 | From Times Wire Services
UJB Financial Corp. and Summit Bancorp said Monday that they agreed to merge in a $1.2-billion stock transaction that will create the second-biggest bank in New Jersey. The combination is the latest in a string of mergers and acquisitions in the banking industry, including two previous big transactions involving major New Jersey banks. Under the agreement, approved Sunday by the boards of both companies, Summit shareholders will receive 0.
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