United and People’s United Face Lawsuits as Shareholders Set to Meet on Merger
People’s United Bank and Connecticut-based United Bank have moved closer to a proposed merger, but not without several legal complaints looking to delay the transaction.
United Bank Rejected Bigger Offer from People’s United Last Year
People’s United’s latest acquisition target, Connecticut-based United Bank, originally rejected a much higher offer from People’s last year.
McGurk’s Bid to Stop Purchase of United Bank Faces Big Obstacles
William McGurk, one of the largest private shareholders in United Bank, has been outspoken about his disappointment in People’s United Bank’s planned $759 million purchase of United. But he faces a difficult path to blocking the merger.
United Bank’s Largest Private Shareholder Slams Planned Acquisition
The largest private shareholder of United Financial Bancorp stock has criticized the company’s planned acquisition by People’s United Bank.
