brooklinebankBrookline Bancorp, the holding company for Brookline Bank and First National Bank of Ipswich, has once again pushed back the deadline for shareholders of Bancorp Rhode Island Inc. to elect the form of consideration they wish to receive in Brookline’s pending merger with Bancorp Rhode Island, this time to Dec. 2.

As with the prior extensions of the election deadline, the latest extension is intended to reduce the potential time between the election deadline and the effective date of the merger, the company said in a statement. The merger is expected to be completed before the end of the year, subject to receipt of remaining regulatory approvals and the satisfaction of other customary closing conditions.

Any Bancorp Rhode Island shareholder who has previously submitted an election form and letter of transmittal will have the opportunity to change his or her election by submitting a new election form and letter of transmittal prior to the new deadline. If a shareholder does not wish to change a previously submitted election, no action needs to be taken, Brookline Bancorp said.

Brookline Bancorp – Again – Delays Bancorp Rhode Island Shareholder Deadline

by Banker & Tradesman time to read: 1 min
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