secwatch.observer — SEC 8-K summary
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Issuer:     M&T BANK CORP (MTB)
CIK:        0000036270
Form:       8-K
Filed at:   2022-04-04T23:59:59+00:00
Accession:  0001193125-22-094296
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 2.03, 3.03, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

M&T completes $8.3B acquisition of People's United, creating $200B bank
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- Deal valued at $8.3B; each PBCT share converted into 0.118 MTB share.
- Combined company has $200B in assets, 22,000 employees, 1,000+ branches across 12 states and D.C.
- M&T assumed $75M 5.75% sub notes due 2024, $500M 3.65% senior notes due 2022, and $400M 4.00% sub notes due 2024.
- Four People's United directors elected to M&T board: John Barnes, Kirk Walters, Jane Chwick, William Cruger.
- Non-compete payments of $18M to John Barnes and $6M to Kirk Walters made effective April 1, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36270/000119312522094296/0001193125-22-094296-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36270/000119312522094296/d349120d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-094296

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer