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CATC - Cambridge Bancorp News Story

$53.89 -0.3  -0.6%

Last Trade - 03/08/20

Sector
Financials
Size
Small Cap
Market Cap £285.6m
Enterprise Value £428.7m
Revenue £100.9m
Position in Universe 3169th / 6366

BUZZ-Wellesley Bancorp hits record high on $112 mln buyout deal

Fri 6th December, 2019 3:47pm
** Shares of bank holding co  WEBK.O  jump 29.6% to hit
all-time high of $41.9 
    ** Stock is second-biggest pct gainer across U.S. exchanges;
set for its best day ever, if gains hold
    ** WEBK to be bought by Cambridge Bancorp  CATC.O  in an
all-stock deal for $112.1 mln, based on CATC's Thursday close
 urn:newsml:reuters.com:*:nBw7lyr5fa
    ** CATC's offer of $43.62 per WEBK share represents a
premium of ~35% to Wellesley's last close on Wednesday.
    ** CATC down ~2%; co also prices stock offer of 479,000
shares at $73/shr gross proceeds of $35 mln  urn:newsml:reuters.com:*:nBw97tsvya
    ** For the year, WEBK up ~51%, CATC down 11.5% 

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))
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