M&T Bank Corporation and People’s United Financial Inc. have entered into an agreement under which M&T Bank will acquire People’s United. Following completion of the transaction, former People’s United shareholders will collectively own approximately 28 percent of the combined company.
The combination will create a diversified, community-focused banking franchise with approximately $200 billion in assets and a network of more than 1,100 branches that spans 12 states from Maine to Virginia and the District of Columbia.
The S&C team advising M&T Bank includes Rodge Cohen, Mark Menting, and associates C. Michelle Chen and Elizabeth Cheung. Marc Treviño and Heather Coleman are advising on executive compensation matters. S&C is advising on tax-related matters. Mehdi Ansari is advising on matters related to intellectual property. Special counsel Andrea Tokheim is advising on bank regulatory matters.