News & Events

The Firm is representing People’s United Financial, Inc. ("People’s United"), the holding company for People’s United Bank, in its cash and stock acquisition of Financial Federal Corporation ("Financial Federal") valued at approximately $738 million.

Under the terms of the agreement, Financial Federal shareholders will receive $11.27 per share in cash plus one share of People’s United common stock for each Financial Federal share they own. Completion of the transaction is subject to customary closing conditions, including the approval of the shareholders of Financial Federal. The transaction is expected to close in the first quarter of 2010.

Financial Federal is a financial services company providing collateralized lending, financing and leasing services nationwide to small and medium sized businesses in the general construction, road and infrastructure construction and repair, road transportation and refuse industries. People’s United Bank is the largest bank headquartered in New England. Founded in 1842, People’s United provides consumer, commercial, insurance, retail investment and wealth management and trust services to personal and business banking customers.

The Simpson Thacher team includes: Lee Meyerson, Elizabeth Cooper, Mark Bussey and Viktor Sapezhnikov (M&A); Samantha Shipp (Executive Compensation and Employee Benefits); and Gary Mandel and Rian Balfour (Tax).