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People's United Financial to buy United Financial Bancorp for $759 mln

July 15 (Reuters) - People's United Financial Inc said on Monday it would buy United Financial Bancorp Inc in a deal valued at about $759 million.

Shareholders of United Financial will receive 0.875 shares of People's United Financial stock for each share they hold.

The deal is for $14.74 per share, based on the closing price of People's United common stock on July 12. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva)