Brookline Bancorp Inc. has agreed to acquire Bancorp Rhode Island Inc and its unit BankRI for about $234 million in a cash and stock deal. The transaction, expected to close in the fourth quarter of 2011, will be accretive to Brookline Bancorp earnings per share by approximately 25 percent in 2012, said Brookline Bancorp. Brookline Bancorp said the total cash consideration could be about $121 million and total stock consideration about 11 million shares of Brookline Bancorp common stock. Shareholders of Bancorp Rhode Island will receive either $48.25 in cash, or 4.686 shares of Brookline Bancorp common stock, or a combination, for each Bancorp Rhode Island share.
Source
