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AI brief of an SEC Form 8-K · Beacon Financial (BBT)

Berkshire Hills agrees to merge with Brookline Bancorp in $1.14 billion all-stock deal

Neutral Impact 5 of 5 m&a Written later

Berkshire Hills Bancorp and Brookline Bancorp signed a merger agreement on December 16, 2024, under which Brookline will combine with Berkshire, with Berkshire as the surviving company. Each Brookline share will convert into 0.42 of a Berkshire share, and the deal is subject to shareholder and regulatory approvals with closing anticipated in the second half of 2025. Berkshire is also selling 3,448,275 shares in a private placement at $29.00 per share, which would dilute existing Berkshire holders.

Key points

  • Each Brookline share converts into 0.42 of a Berkshire share; deal value is about $1.14 billion, or $12.68 per Brookline share
  • Pro forma ownership: 51.2% Berkshire, 44.8% Brookline, 4.1% new investors
  • Private placement of 3,448,275 shares at $29.00 per share, about $100.0 million gross proceeds, expected to close December 19, 2024
  • A termination fee of $45.0 million is payable by either company in certain circumstances

The filing

CompanyBeacon Financial (BBT)
Form8-K, current report
Filed with the SECDec 16, 2024, 8:45 AM ET
Accession number0001104659-24-128694

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.02 Director / Officer Change7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 16, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.