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CATC - Cambridge Bancorp News Story

$58.1 -0.3  -0.4%

Last Trade - 11/08/20

Sector
Financials
Size
Small Cap
Market Cap £308.5m
Enterprise Value £451.8m
Revenue £101.1m
Position in Universe 3142nd / 6376

BRIEF-Cambridge Bancorp And Wellesley Bancorp To Merge

Thu 5th December, 2019 10:13pm
Dec 5 (Reuters) - Cambridge Bancorp  CATC.O :
    * CAMBRIDGE BANCORP AND WELLESLEY BANCORP, INC. TO MERGE
    * CAMBRIDGE BANCORP - TRANSACTION IS PRESENTLY VALUED AT
$45.54
PER WELLESLEY COMMON SHARE, OR APPROXIMATELY $122 MILLION IN
AGGREGATE
    * CAMBRIDGE BANCORP - TRANSACTION IS EXPECTED TO BE
APPROXIMATELY
4.4% ACCRETIVE TO CAMBRIDGE'S 2021 EARNINGS PER SHARE
    * CAMBRIDGE BANCORP - EACH SHARE OF WELLESLEY COMMON STOCK
WILL BE
EXCHANGED FOR 0.580 SHARES OF CAMBRIDGE COMMON STOCK
    * CAMBRIDGE BANCORP - UPON CLOSING, THREE WELLESLEY
DIRECTORS WILL
JOIN BOARD OF DIRECTORS OF CAMBRIDGE
    * CAMBRIDGE BANCORP - TRANSACTION IS EXPECTED TO BE
APPROXIMATELY
1.6% DILUTIVE TO CO'S 2021 TANGIBLE BOOK VALUE PER SHARE
    * CAMBRIDGE BANCORP - MERGER EXPECTED TO EXPAND CO'S GREATER
BOSTON PRESENCE WITH ADDITION OF WELLESLEY'S 6 FULL SERVICE
BANKING OFFICES IN NORFOLK, ETC
    * CAMBRIDGE BANCORP - THOMAS FONTAINE, PRESIDENT AND CEO OF
WELLESLEY, WILL JOIN COMBINED COMPANY IN ROLE OF CHIEF BANKING
OFFICER AND DIRECTOR

Source text for Eikon:  ID:nBw7lyr5fa 
Further company coverage:  CATC.O 

 ((Reuters.Briefs@thomsonreuters.com;))
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