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BRIEF-South State Corporation announces merger with Park Sterling Corporation

April 27 South State Corp

* South State Corporation announces merger with Park Sterling Corporation

* South State Corp - combining two companies will create a $14.5 billion in assets franchise

* South State Corp - merger agreement has been unanimously approved by board of directors of each company

* South State Corp - shareholders of Park Sterling Corporation will receive 0.14 shares of south state common stock for each share of Park Sterling common stock

* South State Corp - deal aggregate consideration is valued at approximately $690.8 million in aggregate

* South State Corp - upon consummation of merger, Cherry will be appointed to combined company's board of directors

* South State Corp - at deal closing, Park Sterling Corporation will be merged into South State Corporation

* South State Corp - Park Sterling's bank subsidiary, Park Sterling Bank, will be merged into South State's bank subsidiary, South State Bank Source text for Eikon: Further company coverage:

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