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PBCT/MTB: M&T Lender, People’s United to form Varied Financial Business from inside the $seven.6B All of the-Inventory Exchange

PBCT/MTB: M&T Lender, People’s United to form Varied Financial Business from inside the $seven.6B All of the-Inventory Exchange

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  • M&T Bank Corp. and you will Mans Joined Monetary Inc. announced today, Tuesday, Feb. 22, they have entered towards a decisive contract below which M&T often acquire People’s Joined inside the a practically all-stock transaction having an implied total transaction worth of as much as $eight.six mil. The brand new companies’ integration is intended to manage an excellent varied, community-concentrated banking operation with a network in excess of step one,100 twigs generally throughout the Northeast.
  • Beneath the regards to brand new merger contract, Man’s United shareholders will have 0.118 out-of a share off Yards&T well-known stock for every Mans United display kept.
  • The brand new merger was at the mercy of receipt out of regulatory approvals and you may acceptance by the investors off one another people. Banking regulating approvals on Government Set-aside, any office of your Comptroller of Currency therefore the The fresh York State dept. Continue reading “PBCT/MTB: M&T Lender, People’s United to form Varied Financial Business from inside the $seven.6B All of the-Inventory Exchange”