Regional lenders Berkshire Hills Bancorp, Inc. (BHLB) and Brookline Bancorp, Inc. (BRKL) entered a merger agreement on December 16, 2024, to combine in a $1.1 billion all-stock deal.
Under the terms of the agreement, each outstanding share of Brookline common stock will be exchanged for the right to receive 0.42 shares of Berkshire common stock. The transaction is valued at about $12.68 per share of Brookline common stock, representing a premium of 0.96% from the stock’s last close.