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United Financial Bancorp Inc. Completes Acquisition Of New England Bancshares Inc.

Nov 19, 2012 | Reprints | Unlock Link | Print

United Financial Bancorp Inc. (UBNK), the holding company for United Bank, has acquired New England Bancshares Inc. (NEBS), the holding company for New England Bank.

Under the terms of the merger agreement, NEBS stockholders are receiving 95 cents of a share of UBNK common stock for each share of NEBS common stock held. NEBS stockholders will receive information shortly on how to exchange their shares for the merger consideration.

Effective as of the completion of the acquisition, former NEBS President and CEO David O’Connor and former NEBS director Thomas O’Brien were appointed to the board of directors of UBNK and United Bank.

Stifel Nicolaus Weisel acted as exclusive financial advisor to UBNK and FinPro Capital Advisors Inc. acted as financial advisor to NEBS in connection with the transaction.

Banking & Lending