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Century Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Sale of Century Bancorp, Inc Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – CNBKA
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Eastern Bankshares, Inc. and Century Bancorp, Inc. Enter Into Definitive Agreement To Merge
April 8, 2021 GMT
BOSTON & MEDFORD, Mass. (BUSINESS WIRE) Apr 7, 2021
Eastern Bankshares, Inc. (“Eastern”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, and Century Bancorp, Inc. (Nasdaq: CNBKA) (“Century”), the stock holding company for Century Bank and Trust Company (“Century Bank”), today jointly announced they have entered into a definitive all-cash merger agreement with an aggregate transaction value of $642 million. This in-market transaction comes less than six months after Eastern’s initial public offering that raised approximately $1.7 billion in equity capital.
Eastern Bankshares to buy Century Bancorp for $642 million
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Eastern Bank, Century Bank Agree to Merge
April 08, 2021, 07:37 AM
Eastern Bankshares, the stock holding company for Eastern Bank, and Century Bancorp, the stock holding company for Century Bank and Trust Company, jointly announced they have entered into a definitive all-cash merger agreement with an aggregate transaction value of $642 million. This in-market transaction comes less than six months after Easternâs initial public offering that raised approximately $1.7 billion in equity capital.
Under terms of the merger agreement, which has been unanimously approved by both boards of directors, Century shareholders will receive $115.28 in cash for each share of Century Bancorp, Inc.âs common stock. The acquisition is expected to close in the fourth quarter of 2021, subject to certain conditions, including the receipt of required regulatory approvals, shareholder app
WeissLaw LLP is investigating whether Century s board acted in the best interest of Century s public shareholders in agreeing to the proposed transaction, whether the per-share merger consideration adequately compensates Century s shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Century s public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business pr
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