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Center Bancorp, Inc. Message Board

  • serieswins26 serieswins26 Oct 23, 2007 4:39 PM Flag

    Beacon Trust files suit against CNBC

    Oct 10 (Reuters) - Bank holding company Center Bancorp Inc (CNBC.O: Quote, Profile , Research) said its acquisition target Beacon Trust Co filed a lawsuit, alleging breaches to their merger agreement.

    The complaint seeks damages and injunctive relief enjoining Center Bancorp from ending the merger agreement if the deal is not closed by Dec. 15. Center Bancorp said it will defend the allegations.

    In March, Center Bancorp had said it would acquire Beacon Trust, a privately held limited purpose trust. (Reporting by Aditi Samajpati in Bangalore)

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