S&C Advises M&T Bank in Acquisition of People's United FinancialFebruary 22, 2021
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. Ron Creamer 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.