An unsolicited bid for Sandwich (Mass.) Bancorp has touched off a fierce fight for the 112-year-old institution.
In one corner stands CompassBank of New Bedford, Mass., which on Feb. 2 announced plans to acquire Sandwich for $110 million in cash, or $53 per share. In the other is Cape Cod Bank and Trust Co., which swooped in Tuesday and offered Sandwich shareholders $125 million in stock. Hyannis- based Cape Cod, with $981 million of assets, has offered to pay up to 20% of the purchase price in cash.