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Blue Hills Bancorp shareholders approve acquisition by Independent Bank Corp.

Blue Hills Bancorp Inc. shareholders approved its $726.5 million acquisition by Independent Bank Corp. at a special meeting Jan. 16.

Blue Hills Bancorp's stockholders will receive $5.25 in cash and 0.2308 of a share of Independent's common stock in exchange for each share of Blue Hills Bancorp after the deal closes, which is expected later in the first quarter or early in the second quarter.

Independent Bank's stockholders will vote on the merger at a special meeting Jan. 25.