tiprankstipranks
Cambridge Bancorp Acquired and Integrated into Eastern Bankshares
Company Announcements

Cambridge Bancorp Acquired and Integrated into Eastern Bankshares

Don't Miss Our Christmas Offers:

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.

Related Articles
TheFlyOne option delisting on July 16th
TheFlyEastern Bankshares merges with Cambridge Bancorp, David Rosato named CFO
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App