MEMPHIS - Union Planters Corp. and Grenada Sunburst System Corp. said their shareholders had approved the merger of the two banks. Both Union Planters, which is based in Memphis, and Grenada Sunburst, headquartered in Grenada, Miss., held special shareholders meetings last week, with over 95% of stockholders of both banks voting in favor of the transaction.

The companies also said they had received all required regulatory approvals for the deal, which was announced in July and is valued at about $360 million.

The acquisition of Grenada Sunburst, which has $2.5 billion of assets, will boost Union Planters' total to $10 billion, with 376 offices in Tennessee, Alabama, Arkansas, Kentucky, Louisiana, and Mississippi.

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