Federal Reserve Approves M&T Bank’s Acquisition of People’s United Financial

The board of governors of the Federal Reserve System provided regulatory approval for M&T Bank’s acquisition of People’s United Financial.

Both the New York State Department of Financial Services and the Connecticut Department of Banking provided approval as well, so no further regulatory approvals are required. The merger is expected to be completed in accordance with the law and the agreement.

The board of directors of each company unanimously approved the merger. Shareholders at both People’s United Financial and M&T Bank approved the transaction on May 25, 2021, at their respective special meetings. The two companies previously extended their merger agreement from Feb. 21, 2022, to June 1, 2022.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.