InsideArbitrage Event Driven Monitor – April 25, 2025
Merger Arbitrage
- HONE: The acquisition of HarborOne Bancorp, Inc. (HONE) by Eastern Bankshares, Inc. (EBC), for a closing value of $796.78 million. Under the terms of the agreement, shareholders of HarborOne will receive, for each share of HarborOne common stock, either 0.765 shares of Eastern common stock or $12 in cash, at the election of the shareholder. However, the election is subject to allocation procedures designed to ensure that between 75% and 85% of the total outstanding shares of HarborOne common stock are exchanged for stock consideration. The transaction is valued at approximately $490 million, excluding debt. (Press Release)
- WMPN: Mid Penn (MPB) and William Penn (WMPN) announced they expect to complete the merger on April 30, 2025.
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