This post was originally published on this site
M&T Bank Corp. is nearing a deal to buy People’s United Financial Inc. for more than $7 billion, according to people familiar with the matter, in the latest in a string of regional-bank tie-ups.
The companies are discussing an all-stock deal that could be announced as soon as this week, the people said, assuming talks don’t fall apart. Bridgeport, Conn.-based People’s United PBCT, +2.28% has a market value of roughly $6.6 billion, while Buffalo, N.Y.-based M&T’s MTB, +2.20% is more than $19 billion.
