Market Chatter: Eastern Bankshares Urged to Explore Sale by Activist Investor HoldCo Asset Management

MT Newswires Live

Oct 17

Eastern Bankshares (EBC) is being asked to explore a potential sale of the company by activist investor HoldCo Asset Management, Reuters reported Friday, citing documents and people familiar with the matter.

HoldCo, which has built a 3% stake in Eastern Bankshares, is pushing Eastern Bankshares for a sale, possibly to the financial institution's larger neighbor, M&T Bank (MTB), according to the report.

Additionally, HoldCo also wants Eastern Bankshares' management to stop its "poor allocation of capital," referencing the three acquisitions and multiple securities restructurings made in the previous years, the people reportedly said.

Eastern Bankshares did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 17.75, Change: +0.53, Percent Change: +3.05

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price: 17.75, Change: +0.53, Percent Change: +3.05</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1668664300.SGD","symbol_name":"Blackrock World Financials A2 SGD-H","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2576705657","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2576705657","pubTimestamp":1760709730,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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