M&A · Financials · National Commercial Banks
Independent Bank Corp to acquire Meridian Bancorp, Inc.
Announced Apr 28, 2021 · Closed Nov 12, 2021
Deal value$1.15B
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$21.74 per share
Transaction
- Acquirer
- Independent Bank Corp (INDB)
- Target
- Meridian Bancorp, Inc.
- Buyer type
- Strategic
- Offer price per share
- $21.74
- Enterprise value
- —
- Status
- Closed Nov 12, 2021
Deal protections
- Break fee (target pays)
- $44.1M · 3.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Stifel
- To the target
- Raymond James
Sector context · Financials
- Comparable deals
- 25 in the prior 24 months
- Premium
- Sector median 48.0%
- EV / Adj. EBITDA
- Sector median 21.5x
- Break fee
- 3.8% vs. 3.7% sector median
Timeline
- AnnouncedApr 28, 2021
- Proxy filedJun 22, 2021
- Definitive proxyJun 22, 2021
- Shareholder voteAug 5, 2021
- ClosedNov 12, 2021