I just happened to own a measley 400 shares, did have 1800 at once. Sold them at a slight profit. I had bought during the meltdown days of 5.65. It is really sad they would sell out for a $1 more than its depressed price, which then tells me mgmt is either really stupid or they were in huge trouble going fwd, as in no business. I am very surprised that this is all they got, 1$ premium, that sux!
It shows me that they don't see any change in interest rates for a very long time. But the price is still really low. M&T needs the branches to expand their commercial banking. M&T's plans for Hudson look very promising for them, that's why their stock is up today. Others might see the same and get this stock bidded up. It's a long time between now and the 2Q of 2013 when the deal is expected to close.