02:22 PM EDT, 09/04/2024 (MT Newswires) -- (Updates with additional details in the third paragraph and stock price movement in the last paragraph.)

Sandy Spring Bancorp ( SASR ) is engaging with financial advisers as it mulls talks with potential buyers, Bloomberg reported Wednesday, citing people familiar with the matter.

The company held talks with interested buyers including Atlantic Union Bankshares ( AUB ), the report said.

Talks are at the initial stages with no deal near and Sandy Spring could still choose to stay independent, one of the people reportedly said.

Sandy Spring and Atlantic Union didn't immediately respond to requests for comment from MT Newswires.

Shares of Sandy Spring were up 2.9% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 31.63, Change: +0.88, Percent Change: +2.86