November 29, 2007
Chittenden Stockholders Approve $1.9B People's Merger
By Matthew L. Brown
Stockholders of Chittenden Corp., the Vermont-based parent of Worcester's Flagship Bank and Trust Co., approved the company's buy-out by People's United Financial Inc.
Chittenden expects the merger to close Jan. 1.
People's, which is based in Connecticut, will buy Chittenden for $1.9 billion in cash and stock.
Chittenden has five New England subsidiaries in addition to Flagship.
Chittenden expects the merger to close Jan. 1.
People's, which is based in Connecticut, will buy Chittenden for $1.9 billion in cash and stock.
Chittenden has five New England subsidiaries in addition to Flagship.
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