Eastern Bankshares, Inc. (NASDAQ: EBC) and HarborOne Bancorp, Inc. (NASDAQ: HONE) announced on 2025‑10‑17 that shareholders will have until 5:00 p.m. Eastern Time on 2025‑10‑23 to submit an election regarding the merger consideration. The election deadline applies to all HarborOne common‑stock holders, including ESOP and 401(k) plan participants, who must mail their completed election forms and any required stock certificates to the exchange agent by the stated time.
The election materials were distributed to HarborOne shareholders on 2025‑09‑24, and the merger agreement specifies that shareholders who do not submit a valid election will have their shares automatically exchanged for the stock and cash consideration outlined in the merger plan. The consideration will be subject to applicable withholding taxes and will be paid without interest. The merger is expected to close in the fourth quarter of 2025, at which point HarborOne common stock will be delisted from the Nasdaq exchange.
This announcement marks a critical step in the consolidation of Eastern Bank’s regional footprint. By setting a clear election deadline and outlining the terms of the merger consideration, the companies provide shareholders with the information needed to evaluate the transaction’s value. The anticipated delisting of HarborOne common stock upon closing signals the completion of the merger and the integration of HarborOne’s assets and operations into Eastern Bank’s platform, potentially creating synergies and expanding the combined entity’s market presence in New England.
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