M&T Bank Corporation and People's United Financial, Inc. jointly announced that, at their respective special meetings of shareholders, they each received the necessary shareholder approvals for the consummation of the merger of People's United into M&T. M&T and People's United expect the transaction to be completed promptly once they have obtained.
/PRNewswire/ M&T Bank Corporation (NYSE: MTB) ("M&T") and People s United Financial, Inc. (NASDAQ: PBCT) ("People s United") jointly announced that, at.
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Both Holding Companies Receive Shareholder Approval for Merger
Vermont Business Magazine M&T Bank Corporation (NYSE: MTB), based in Buffalo, and People s United Financial, Inc (NASDAQ: PBCT), based in Bridgewater, CT, jointly announced today that, at their respective special meetings of shareholders yesterday, they each received the necessary shareholder approvals for the consummation of the merger of People s United into M&T. Based on stock prices when the deal was announced in February 2021, the all-stock acquisition is valued at approximately $7.6 billion. People s acquired Burlington-based Chittenden Corp in 2008 for $1.8 billion. People s United Bank has branches across Vermont.
People s shares closed at $18.33 Tuesday or near their 52-week high (52 Week Range, $9.74 - $19.62). M&T s shares closed at $157.27 or on the upper end of it s one-year range ($88.48 - $168.27).
M&T Bank Customers Secure Nearly $10 Billion in Paycheck Protection Program Funding
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BUFFALO, N.Y., May 24, 2021 /PRNewswire/ M&T Bank Corporation ( M&T ) (NYSE: MTB), the nation s fifth largest Small Business Administration (SBA) lender in fiscal year 2020, today announced more than 58,000 of its business customers received approval for a total of about $9.8 billion in funding through the Paycheck Protection Program (PPP), which has now closed to most new applicants. M&T has disbursed nearly all of the approved funding to these companies, which employ more than 850,000 people across the bank s eight-state footprint.
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