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Merger and Acquisition

Business
18 People's Bank Branches Will Be Closing In Connecticut 18 People's Bank Branches Will Be Closing In Connecticut
18 People's Bank Branches Will Be Closing In Connecticut At least 18 People’s Bank branches in Connecticut - including one in Fairfield County - will close within the next year, the company announced following its merger with United Banks earlier this year. Last week, United Bank logos were replaced by the People's United Bank moniker as a continuation of its $759 million buyout, which was announced in July. The closures are expected to take effect between December and April next year. In a statement, People’s Bank CEO Jack Barnes said that “United customers will have access to our in-store Stop & Shop branches across Con…

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by Zak Failla
Business
Dolan Family, Longtime News 12 Anchor Sue New Owner Altice Over Layoffs Dolan Family, Longtime News 12 Anchor Sue New Owner Altice Over Layoffs
Dolan Family, Longtime News 12 Anchor Sue New Owner Altice Over Layoffs This story has been updated. A lawsuit and request to permanently enjoin Altice USA from laying off more television workers at News 12 was filed this week. The lawsuit alleges that Altice ignored commitments made during its $17.7 billion acquisition of Cablevision Systems Corp. The merger closed in June 2016. The suit was filed in Delaware by the Dolan Family alleging Altice failed keep promises detailed in a 2016 Merger Agreement and for equitable fraud, among other claims. Plaintiffs in the lawsuit include: Charles Dolan, founder and former CEO of Cablevision; Helen Dolan; James Dolan, …

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by Jon Craig