Nutter represents Eastern Bank in its agreement to acquire MASSBANK CorporationPrint PDF
Nutter represented Eastern Bank Corporation in its agreement to acquire MASSBANK Corporation, in a cash transaction valued at approximately $170 million, or $40 per share. When completed, the merger will create a $7.6 billion bank serving more than 400,000 customers and businesses across eastern Massachusetts and marks the third merger for Eastern in the past four years.
The merger will provide enhanced convenience for customers who will have access to 90 branch offices and more than 100 ATMs and it provides lending and cash management services to MASSBANK branches allowing them to better serve the small business community. The transaction is expected to close in the second half of 2008 pending approval by state and federal regulators and shareholders of MASSBANK Corporation.