M&A: CAMDEN NATIONAL CORP

Form Type: 8-K

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000075068625000004

Comments: On January 2, 2025, Camden National Corporation completed its acquisition of Northway Financial, Inc. as per the Agreement and Plan of Merger dated September 9, 2024. Northway was merged with Camden, with Camden surviving. Simultaneously, Northway Bank merged with Camden National Bank, which continued as the surviving entity. Each share of Northway Common Stock was converted into 0.83 shares of Camden Common Stock, with approximately $96.5 million in shares being the consideration based on Camden's stock price of $42.25 at the time of the merger. The document also specifies the appointment of Larry K. Haynes to the Camden Board of Directors in accordance with the Merger Agreement, and details his compensation package as a director, including an annual cash retainer and per-meeting fees. A press release was issued on the same day to announce the details of the merger and Mr. Haynes' appointment to the Board.

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