First Niagara Financial Group, Inc. (NASDAQ: FNFG) announced another major expansion today, this time into New England.
First Niagara and New Haven, Conn.-based NewAlliance Bancshares, Inc. (NYSE:NAL) announced that they will combine in a cash and stock transaction worth $1.5 billion. NewAlliance shareholders will receive 1.10 shares of First Niagara stock for each NewAlliance share they own.