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NEW YORK, February 22, 2010 — Financial Federal Corporation and People’s United Financial, Inc. have completed the merger of Financial Federal with People’s United in a transaction valued at approximately $738 million. Covington & Burling LLP advised Financial Federal on the transaction.
Financial Federal is a financial services company providing collateralized lending, financing and leasing services nationwide to small and medium sized businesses in general construction, road and infrastructure construction and repair, road transportation and refuse industries. People’s United Financial is the holding company of People’s United Bank, the largest bank headquartered in New England.
The Covington team was led by corporate partners Scott Smith, Mike Lefever and Jack Bodner, with associates Jonas Marson, Brooke Purcell and Kyle Rabe. Also advising on the transaction were partners Robert Newman and Carolyn Taylor and associate Jenna Wallace (executive compensation and benefits), partner Stuart Stock and associate Mike Nonaka (banking), partner Rob Heller and associate Rucia Pei (tax) and partner James Dean and associate Stephen Rodger (antitrust).