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First Connecticut Bancorp (FBNK) Set A New High After Bought By People's United

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 gapped up sharply Tuesday and posted gains in early trade, before settling into a narrow range. Shares finished up by 5.15 at $31.15 on the highest volume of the year. The stock broke out to a new high for the year.

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