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Hi All-
I posted this in a different forum, but couldn't get a clear answer. Let's see if anyone here can help. :)

I'm interested in the stock of People's United Financial, Inc. (NASDAQ; PBCT). But looking at their price chart for the last year, I noticed a huge drop (50%+) on April 5th. This drop coincided with a "Plan of Conversion".

I found a link that explains this Plan of Conversion...but can't for the life of me figure out what exactly happened. The link to the article is: http://www.marketwatch.com/news/story/peoples-bank-stockholders-depositors-approve/story.aspx?guid=%7B2374CDD6-5CAC-4925-8DFE-6DA8ACD2D9D8%7D


Can anyone explain what that was all about? Also, I'd love to hear any opinions on what it may or may not mean about the company itself.

Many thanks,
John
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