M&T Bank $7.6 billion acquisition of People's United

Overview:

• Banking company M&T Bank announced it will acquire fellow bank People’s United Financial for $7.6 billion.
• It is an all-stock transaction where People’s United shareholders will get 0.118 of a M&T Bank common share per 1 People’s United share. The matter is expected to close in Q4 2021.
• Lazard is the financial advisor to M&T Bank. Keefe, Bruyette & Woods and JP Morgan are financial advisors to People’s United.

Chynna Lewis - Researcher