KBRA Comments on Enterprise Bancorp, Inc.'s Proposed Merger Agreement with Independent Bank Corp.
Enterprise Bancorp Inc (EBTC)
US:NASDAQ Investor Relations:
enterprisebanking.com
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--On December 9, 2024, Rockland, MA-based Independent Bank Corp. (NASDAQ: INDB) (“Independent”), parent company of Rockland Trust Company (“Rockland Trust”), and Lowell, MA-based Enterprise Bancorp, Inc. (NASDAQ: EBTC) (“Enterprise”)(KBRA senior unsecured debt rating: BBB / Stable Outlook), parent company of Enterprise Bank and Trust Company (“Enterprise Bank”), jointly announced the signing of a definitive merger agreement pursuant to which Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock transaction for total consideration valued at approximately $562 million, or 1.55X TBV at the merger announcement. Enterprise shareholders will receive 0.60 shares of Independent common stock and $2.00 in cash for each Enterprise share; aggregate consideration to Enterprise shareholders equates to approximately 7.5 million shares of INDB and $27.1 million in cash. As a part of the transaction, Independent plans
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EBTC
News
- Enterprise Bancorp, Inc. (NASDAQ: EBTC) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- ENTERPRISE BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Enterprise Bancorp, Inc. - EBTCBusiness Wire
- INDB to Buy Enterprise Bancorp, Expand Footprint in Lucrative Markets [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Enterprise Bancorp, Inc. - EBTCPR Newswire
- SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Enterprise Bancorp, Inc. - EBTCPR Newswire
EBTC
Sec Filings
- 12/20/24 - Form 8-K
- 12/16/24 - Form 4
- 12/12/24 - Form 8-K
- EBTC's page on the SEC website