Deal Snapshot
Independent Bank´s Rockland Trust to Acquire Meridian Bancorp
Thursday 22 April 2021

Massachusetts, US-based bank holding company Independent Bank Corp. (NASDAQ Global Select Market: INDB) parent of Rockland Trust Company, and Massachusetts, US-based Meridian Bancorp, Inc. (NASDAQ Global Select Market: EBSB) parent of East Boston Savings Bank, have signed a definitive merger agreement for Independent to acquire Meridian and Rockland Trust to acquire East Boston Savings Bank, the companies said.

The merger agreement provides that each Meridian stockholder will receive 0.2750 of a share of Independent common stock for each share of Meridian common stock. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes and to provide a tax-free exchange for Meridian stockholders for the Independent common stock consideration they receive.

Date Published: 22/04/2021