Close the acquisition of People's United Financial, Inc
Delivered after the deadline (91 days after the deadline)
AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.
- Announced
- 22 Feb 2021
- Due
- 31 Dec 2021
- Delivered
- 1 Apr 2022
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The merger is expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions”
What we found
Evidence strength A What the grades mean
The acquisition closed on April 1, 2022, after the fourth-quarter 2021 target, following Federal Reserve approval on March 4, 2022.
-
A M&T Bank 8-K filed 2022-03-07
“the closing of the previously announced merger between the two companies is expected to occur on or about April 1, 2022” ✓ confirmed on the page
-
A M&T Bank 10-Q filed 2022-05-05
“On March 4, 2022, M&T received Federal Reserve approval to acquire People’s United Financial, Inc. ("People’s United"), and on April 1, 2022 closed the acquisition.” ✓ confirmed on the page
Market reaction: the shares moved +2.6% against the S&P 500 over the three sessions around the disclosure (4 May 2022 to 9 May 2022). What this measures
Checked 11 Oct 2026.
Commitment lineage
Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.
- Deadline drift +91 days
- 2 versions
-
Version 1 · original · stated 22 Feb 2021
Deadline 31 Dec 2021 (“in the fourth quarter of 2021”) · wording expected
-
Version 2 · stated 7 Mar 2022
Deadline 1 Apr 2022 (“on or about April 1, 2022”) · wording expected
“the closing of the previously announced merger between the two companies is expected to occur on or about April 1, 2022, subject to the satisfaction or waiver of the remaining customary closing conditions”
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Close
- Deliverable
- Acquisition of People's United Financial, Inc.
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Low
- Specificity
- High
- Conditional
- Yes: subject to satisfaction of customary closing conditions; receipt of regulatory approvals; approval by the shareholders of each company
- Depends on
- Regulatory, Shareholder, Counterparty
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: disagreesGemini (Google) re-read the evidence blind and read it as “Not met”.
- Tie-breakA stronger model read the evidence and both earlier answers, without knowing which was recorded, and agrees with the recorded outcome.
Confirmed. This outcome counts towards the company's Kept Score. How verification works
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Report an error in this entry Reference: KI-C-2021-MTB-006976 · Corrections policy