M&A · Financials · State Commercial Banks
Eastern Bankshares, Inc. to acquire HarborOne Bancorp, Inc.
Announced Apr 24, 2025 · Closed Oct 28, 2025
Deal value$490M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock$11.87 per share
Transaction
- Acquirer
- Eastern Bankshares, Inc. (EBC)
- Target
- HarborOne Bancorp, Inc. (HONE)
- Buyer type
- Strategic
- Offer price per share
- $11.87
- Enterprise value
- —
- Status
- Closed Oct 28, 2025
Deal protections
- Break fee (target pays)
- $18.9M · 3.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- JPMorgan
- To the target
- Raymond James
Sector context · Financials
- Comparable deals
- 61 in the prior 24 months
- Premium
- Sector median 34.5%
- EV / Adj. EBITDA
- Sector median 12.5x
- Break fee
- 3.9% vs. 3.6% sector median
Timeline
- AnnouncedApr 24, 2025
- Proxy filedJun 27, 2025
- Definitive proxyJun 27, 2025
- Shareholder voteAug 20, 2025
- ClosedOct 28, 2025