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(Adds details from WSJ report on combined company's management)
Feb 21 (Reuters) - M&T Bank Corp is nearing anagreement to merge with People's United Financial Inc,with the two companies discussing an all-stock deal that couldbe finalized as soon as this week, the Wall Street Journalreported, citing people familiar with the matter.
The banks will have more than $200 billion in assetscombined, according to the report https://on.wsj.com/3qM0Z8c.People's United has a market value of about $6.6 billion, whileM&T's is over $19 billion.
The combined company is likely to be led by M&T ChiefExecutive René Jones and maintain a significant corporatepresence in Bridgeport, the newspaper said.
The companies did not immediately respond to a Reutersrequest for comment late on Sunday.
(Reporting by Kanishka Singh in Bengaluru; Editing by ChristianSchmollinger and Sam Holmes)