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Big Law

M&T Bank Acquires People’s United Bank for $7B

Bridgeport-headquartered People’s United Bank is being acquired by Buffalo-based M&T Bank Corp. in an all-stock deal valued at more than $7 billion.

The acquisition was first reported Sunday night by The Wall Street Journal based on input from an anonymous “person familiar with the matter.” People’s United has a market value of about $6.6 billion and M&T is valued at over $19 billion.

The combined banks would have more than $200 billion in assets and a branch network spanning the Northeast and mid-Atlantic states. The combined bank will maintain a corporate presence in Bridgeport.

Read the source article at westfaironline.com

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