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An announcement from Cambridge Bancorp (CATC) is now available.
In a significant move within the banking sector, Eastern Bankshares, Inc. has successfully completed its acquisition of Cambridge Bancorp. This strategic merger, which was finalized on July 12, 2024, resulted in a series of consolidations where Cambridge initially merged with a subsidiary of Eastern and subsequently with Eastern itself, creating a single surviving entity. Shareholders of Cambridge Bancorp received 4.956 shares of Eastern Bankshares stock for each share they held, with provisions made for cash in lieu of fractional shares. This deal, marking the end of Cambridge Bancorp as an independent company, also saw the delisting of Cambridge’s common stock from Nasdaq as it became part of Eastern Bankshares.
For an in-depth examination of CATC stock, go to TipRanks’ Stock Analysis page.
