Simpson Thacher Represents JPMorgan as Financial Advisor to Eastern Bankshares in $642 Million Acquisition of Century Bancorp
04.19.21
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The Firm is representing J.P. Morgan Securities LLC as financial advisor to Eastern Bankshares, Inc. (Nasdaq: EBC) in connection with its acquisition of Century Bancorp, Inc. (Nasdaq: CNBKA) in an all-cash transaction with an aggregate transaction value of $642 million. Closing of the transaction is subject to shareholder approval, as well as required regulatory approvals.
Eastern Bankshares is the holding company for Eastern Bank. Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. Century Bancorp is the holding company for Century Bank and Trust. Century Bank and Trust Company is a $6.4 billion state-chartered full service commercial bank, operating twenty-seven branches in the Greater Boston area.
The Simpson Thacher team includes Lee Meyerson (M&A).