Boston Private Reminds Shareholders of Upcoming Special Meeting on May 4, 2021 Regarding the Proposed Transaction with SVB Financial
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (“Boston Private”), a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits, reminds shareholders that the previously adjourned special meeting of shareholders to vote on the proposed transaction with SVB Financial Group (“SVB Financial”) will reconvene at 9:00 a.m. Eastern time on May 4, 2021.
The Boston Private Board believes that the SVB Financial transaction is a financially and strategically compelling opportunity and is the clear value-maximizing alternative for Boston Private shareholders. SVB Financial has confirmed publicly, and today reiterated to Boston Private, that the agreed purchase price for Boston Private is “best and final,” and that it will not increase the purchase price if Boston Private shareholders do not approve the transaction at the upcoming special meeting.
Under Massachusetts law, the transaction cannot be completed unless the merger agreement is approved by the affirmative vote of at least 66 2/3% of the outstanding shares of Boston Private common stock entitled to vote. Your vote is very important. The failure to vote your shares or an abstention from voting has the same effect as a vote against the transaction.
The Board unanimously recommends that shareholders vote “FOR” the proposed transaction with SVB Financial and “FOR” the other matters to be considered at the May 4, 2021 special meeting by following the instructions on the WHITE proxy card to vote via Internet or with a toll-free telephone call to ensure votes are received in time to be counted at the special meeting.
Boston Private shareholders seeking copies of the definitive proxy statement/prospectus or with questions about the special meeting may contact the Company’s proxy solicitor, Innisfree M&A Incorporated by calling toll-free at (877) 800-5187, or for banks and brokers, collect at (212) 750-5833.
About Boston Private
Boston Private is a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits. For more than 30 years, Boston Private has delivered comprehensive advice coupled with deep technical expertise to help clients simplify their lives and achieve their goals. The firm offers the capabilities of a large institution with the superior service of a boutique firm to clients across the United States. Boston Private is the corporate brand of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH). For more information, visit www.bostonprivate.com.