People's United Financial (PBCT) agrees to buy Danvers Bancorp (DNBK) in a cash and stock deal...

|About: People's United Financial, ... (PBCT)|By:, SA News Editor

People's United Financial (PBCT) agrees to buy Danvers Bancorp (DNBK) in a cash and stock deal for $493M. Under the terms, Danvers shareholders can choose to receive either $23 in cash or 1.624 shares of PBCT stock for each DNBK share. DNBK +28%, PBCT -3.2% premarket. (PR)