M&A Deal Summary

M&T Bank Acquires People s United Bank

On February 22, 2021, M&T Bank acquired financial services company People s United Bank for 7.6B USD

Acquisition Highlights
  • This is M&T Bank’s 13th transaction in the Financial Services sector.
  • This is M&T Bank’s largest (disclosed) transaction.
  • This is M&T Bank’s 15th transaction in the United States.
  • This is M&T Bank’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2021-02-22
Target People s United Bank
Sector Financial Services
Buyer(s) M&T Bank
Deal Type Add-on Acquisition
Deal Value 7.6B USD
Advisor(s) Keefe, Bruyette, & Woods, Inc.
J.P. Morgan Securities (Financial)
Simpson Thacher & Bartlett (Legal)

Target

People s United Bank

Bridgeport, Connecticut, United States
People's United Bank is a diversified financial services company with $33 billion in assets. People’s United Bank is a premier, community-based, regional bank in the Northeast offering commercial and retail banking, as well as wealth management services through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire, and Maine. People's United Bank was founded in 1842 and is based in Bridgeport, Connecticut.

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Buyer(S) 1

Buyer

M&T Bank

Buffalo, New York, United States
Category Company
Founded 1856
Sector Financial Services
Employees21,927
Revenue 9.4B USD (2023)
DESCRIPTION

M&T Bank is a financial holding company. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank. M&T Bank was founded in 1856 and is based in Buffalo, New York.

DEAL STATS #
Overall 15 of 16
Sector (Financial Services) 13 of 13
Type (Add-on Acquisition) 10 of 10
State (Connecticut) 1 of 1
Country (United States) 15 of 16
Year (2021) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 Mccue

Peabody, Massachusetts, United States

Mccue is specializes in the distribution of products such as safety barriers, floor railings and bumpers, for use in warehouses and high footfall environments spanning sectors such as grocery and ecommerce. Mccue was founded in 1988 and is based in Peabody, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 Mccue

Peabody, Massachusetts, United States

Mccue is specializes in the distribution of products such as safety barriers, floor railings and bumpers, for use in warehouses and high footfall environments spanning sectors such as grocery and ecommerce. Mccue was founded in 1988 and is based in Peabody, Massachusetts.

Sell -
Mergr

Product

Company

Legal