M&T Bank to buy People’s United
BURLINGTON, Vt. (WCAX) - A bank with branches in our region is being bought out.
M&T Bank will buy People’s United Bank in a deal valued at about $7.6 billion.
People’s United shareholders will get partial shares of M&T stock for each share they own.
People’s United shareholders will collectively own about 28% of the combined business.
The combined company will have approximately $200 billion in assets and a network of more than 1,100 branches and more than 2,000 ATMs in 12 states from Maine to Virginia and the District of Columbia.
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