Peoples Heritage Financial Group is hoping that a tender offer will help along a planned repurchase of 2.6 million shares of its own stock in connection with its acquisition of Family Bancorp, Haverhill, Mass.

Further details will be released when the company is ready to make the offer to its shareholders, which is slightly different than a repurchase of stock because it makes a public tender offer directly to shareholders instead of buying stock in the open market. The company might also use open market and private transactions in the previously announced buyback.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.