M&A
confidence high
sentiment neutral
materiality 0.80
Camden National to acquire Northway Financial in 0.83-for-1 stock merger
CAMDEN NATIONAL CORP
- Northway shareholders to receive 0.83 Camden shares per share; termination fee of $3.19M payable by Northway under certain conditions.
- Deal subject to Northway shareholder vote and regulatory approvals from Federal Reserve, OCC, and NH Banking Dept.
- One Northway director to join Camden and Camden Bank boards post-closing; merger expected to close in 2025.
- Merger intended to qualify as tax-free reorganization under Section 368(a) of the Code.