People’s United’s $759 Million Acquisition Of United Financial

Simpson Thacher represented People’s United Financial, Inc. (NASDAQ: PBCT), the holding company for People’s United Bank, N.A., in connection with its agreement to acquire United Financial Bancorp, Inc. (NASDAQ: UBNK), the holding company for United Bank, in an all-stock transaction valued at approximately $759 million.

People’s United Bank is a diversified, community-focused financial services company headquartered in the Northeast with more than $48 billion in assets. Founded in 1842, People’s United Bank offers commercial and retail banking through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine, as well as wealth management and insurance solutions.

United Financial is a full service financial services firm offering a complete line of commercial, small business, wealth management and consumer banking products and services to customers throughout Connecticut, Massachusetts and Rhode Island.

Keefe, Bruyette & Woods, Inc. served as financial advisor to People’s United and Simpson Thacher & Bartlett LLP served as legal counsel to People’s United.

Sandler O’Neill & Partners served as financial advisor to United Financial Bancorp, Inc. and Sullivan & Cromwell LLP served as legal counsel to United Financial Bancorp, Inc.

The Simpson Thacher team included Lee Meyerson (Picture), Johanna Mayer and Lauren Kim (M&A); Adam Cohen and Spencer Sloan (Bank Regulatory); Jeannine McSweeney and Jason Fixelle (ECEB); and Jonathan Goldstein and Sarah Katz (Tax). Summer associate Katie Lunt provided valuable assistance.

Involved fees earner: Adam Cohen – Simpson Thacher & Bartlett; Jason Fixelle – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Lauren Kim – Simpson Thacher & Bartlett; Johanna Mayer – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: People’s United Financial, Inc.;

Author: Ambrogio Visconti