{"id":113851,"date":"2021-02-22T17:03:06","date_gmt":"2021-02-22T17:03:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113851"},"modified":"2021-02-22T17:03:06","modified_gmt":"2021-02-22T17:03:06","slug":"mt-bank-buying-peoples-united-in-7-6b-all-stock-deal","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/mt-bank-buying-peoples-united-in-7-6b-all-stock-deal\/","title":{"rendered":"M&T Bank buying People\u2019s United in $7.6B all-stock deal"},"content":{"rendered":"
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.\n<\/p>\n
M&T Bank Corp. is buying People’s United Financial Inc. in an all-stock deal valued at about $7.6 billion.<\/p>\n
Branches of the two regional banks are sprinkled throughout the Northeast and mid-Atlantic.<\/p>\n
Ticker<\/th>\n | Security<\/th>\n | Last<\/th>\n | Change<\/th>\n | Change %<\/th>\n<\/tr>\n<\/thead>\n |
---|---|---|---|---|
MTB<\/td>\n | M&T BANK<\/td>\n | 154.54<\/td>\n | +4.68<\/td>\n | +3.12%<\/td>\n<\/tr>\n |
PBCT<\/td>\n | PEOPLE’S UNITED FIN. INC.<\/td>\n | 18.01<\/td>\n | +2.33<\/td>\n | +14.86%<\/td>\n<\/tr>\n |
Powered by<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/p>\n People’s United shareholders will receive 0.118 of a share of M&T common stock for each share they own. People’s United shareholders will collectively own approximately 28% of the combined business.<\/p>\n 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.<\/p>\n |