Standard & Poor’s will remove Financial Federal Corp., awaiting acquisition by People’s United Bank in Bridgeport, from the S&P SmallCap 600 index after trading ends Feb. 18.
It will be replaced by Tessera Technologies Inc.
New York-based Financial Federal is being acquired by the regional bank operator People’s United, which is part of the S&P 500. The $738 million stock and cash deal was first announced in November.
Tessera Technologies will take Financial Federal’s place on the SmallCap 600 index. The company, based in San Jose, Calif., licenses miniaturization technology for electronic devices.
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