Eastern Bank Offers Hefty Premium In $134M Centrix Buy

Law360, New York (March 4, 2014, 3:35 PM EST) -- Eastern Bank Corp. said Tuesday it has agreed to buy New Hampshire-based Centrix Bank & Trust for $134 million in an all-cash deal.

Under the deal, Centrix shareholders will receive $41 in cash per share of Centrix common stock, which represents a 49 percent premium over Monday’s closing stock price of $27.50 per share, Eastern Bank said.

The deal enables the Boston-based Eastern Bank to expand into the state of New Hampshire, adding the commercial bank to Eastern Bank’s 90 retail branches and 1,7000 employees....
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