Eastern Bank Responds to Activist Investor Comments
Executive Chair Bob Rivers didn’t directly address HoldCo’s threat of a proxy fight, but touted the bank’s rising share price, earnings, deposit market share and other metrics.
Activist Investor Calls for Eastern Bank Sale
An activist investor has called for Eastern Bank to put itself up for sale and is threatening a proxy fight to install allies on the bank’s board of directors.
How Close Was the Boston Private-SVB Merger Vote?
While an overwhelming majority of the shares involved in Boston Private’s special meeting yesterday voted in favor of the bank’s planned merger with the parent company of Silicon Valley Bank, nearly 20 percent of outstanding shares did not participate, resulting in a close vote.
Boston Private Says Shareholders Approve Merger with SVB
Boston Private’s shareholders have approved the merger with the parent company of Silicon Valley Bank after the bank delayed the vote for a week to gather more support for the deal.
Boston Private Delays Merger Vote Until Next Week
In a move one of its shareholders called “manipulative tactics,” Boston Private decided to wait another week before holding a vote on the proposed merger with Silicon Valley Bank and adjourned Tuesday morning’s special shareholder meeting without conducting any business.
Boston Private: Silicon Valley Bank Wasn’t Only Potential Bidder
Less than three weeks before the shareholder meeting to decide whether Boston Private goes ahead with its proposed sale to the parent company of Silicon Valley Bank, Boston Private’s board of directors has again responded to an investor’s attempt to stop the transaction.
Boston Private Shareholder Opposes Merger Ahead of Vote
Boston Private Financial Holdings will hold a vote on its proposed merger with Silicon Valley Bank in late April, and shareholders can expect to receive dueling recommendations on whether the deal should go through.
Berkshire Bank CFO Resigns
In the same week that Berkshire Bank agreed to cooperate with an asset management firm that had questioned the bank’s decision to hire a new CEO instead of pursuing a sale, the chief financial officer who had a key role in the controversy is leaving.
Berkshire Bank to Nominate HoldCo Co-Founder to Board
A month after an investor publicly criticized Berkshire Bank for hiring a new CEO instead of pursuing a sale, the bank has agreed to cooperate with the investor, a move that will see the asset management firm’s co-founder nominated to Berkshire’s board of directors.
Berkshire Bank Responds to Shareholder
After an investor last week publicly questioned Berkshire Bank’s decision to hire a new CEO, the bank issued a statement today explaining the reasons for the hiring and confirming it has contacted the investor.
Berkshire Bank Investor Wants Answers About Strategy
The same asset management company that raised concerns about Boston Private’s proposed sale now wants to know why Berkshire Bank decided to hire a new CEO instead of pursuing other alternatives, including a sale.
HoldCo Wants Say on Boston Private’s Board Ahead of SVB Merger
A New York-based asset manager that recently voiced concerns about the sale of Boston Private to Silicon Valley Bank plans to nominate its own candidates, including its co-founders, to the bank’s board of directors.
Shareholder Denounces Boston Private’s Sale Plans
A day after Boston Private Financial Holding agreed to be acquired by the parent company of Silicon Valley Bank, one of Boston Private’s investors sent an open letter to the bank with concerns about “the integrity of the process undertaken by BPFH to maximize value for shareholders.”
