Provident To Be Acquired By M&T

Provident Bankshares Corp. (Nasdaq: PBKS) agreed to be acquired by M&T Bank Corp. (NYSE: MTB) for approximately $401 million in an all stock deal. Shares of Provident Bankshares leaped $3.53 to close at $9.33 while M&T Bank stock tumbled $3.76 to close at $55.96.

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