KBRA Comments on Enterprise Bancorp, Inc.'s Proposed Merger Agreement with Independent Bank Corp. [Yahoo! Finance]
Independent Bank Corp. (INDB)
Last independent bank corp. earnings: 4/23 04:10 pm
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US:NASDAQ Investor Relations:
independentbankgroup.gcs-web.com/investor-relations
Company Research
Source: Yahoo! Finance
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 to raise approximately $250 million in subordinate debt prior to the transaction closing. Post close, Board Chair and Enterprise Ban
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INDB
Earnings
- 10/17/24 - Miss
INDB
Sec Filings
- 12/12/24 - Form 8-K
- 12/9/24 - Form 8-K
- 12/9/24 - Form 8-K
- INDB's page on the SEC website