Eastern Bankshares shares are trading lower after the company announced an agreement to sell the insurance operations of Eastern Insurance Group and entered into a definitive agreement to merge with Cambridge Bancorp.
Portfolio Pulse from Benzinga Newsdesk
Eastern Bankshares has announced its plans to sell the insurance operations of Eastern Insurance Group and merge with Cambridge Bancorp. This has led to a decrease in the company's share prices.
September 20, 2023 | 12:37 pm
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Eastern Bankshares' shares are trading lower after the company announced plans to sell the insurance operations of Eastern Insurance Group and merge with Cambridge Bancorp.
The announcement of the sale of a significant part of the company's operations and a merger with another company has led to uncertainty among investors, causing a drop in Eastern Bankshares' share prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100