Webster sets special investor meeting Dec. 10

Super-regional bank Webster Financial Corp. will hold its Dec. 10 special meeting in its Waterbury hometown for shareholders to review and vote on allowing Wall Street investor Warburg Pincus to own more than 10 percent of Webster.

The meeting at 4 p.m. at the Courtyard by Marriott at 63 Grand Street downtown Waterbury is for shareholders to decide on amending the bank's incorporation certificate banning a single investor from owning more than 10 percent of its stock without shareholder approval.

They also will decide whether on converting Warburg's warrants to buy as much as 11.3 million shares of Webster common stock.

The record date for shareholders to vote at the meeting is Oct. 20.

Last week, Warburg completed its second final step of its $115 million equity investment in Webster, with $17.8 billion in assets.

Yesterday, Webster posted a $26.1 million third-quarter loss.