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First Connecticut Bancorp (FBNK) Has Leaped To A New High After Merger

First Connecticut Bancorp (FBNK) announced Tuesday morning that it has agreed to be acquired by People's United Financial (PBCT) for approximately $544 million in a stock transaction.

First Connecticut Bancorp has gapped open sharply higher this morning and is now up 5.20 at $31.20 with volume at an 11-month high. The stock has jumped to a new high for the year.

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