Shareholders of The Bank of New York and Mellon Approve Proposed Merger
24 Maggio 2007 - 5:27PM
PR Newswire (US)
NEW YORK, and PITTSBURGH, May 24 /PRNewswire-FirstCall/ -- The Bank
of New York Company, Inc. and Mellon Financial Corporation
announced that, at separate meetings today, their respective
shareholders overwhelmingly approved the proposed merger of the two
companies. The merger, first announced December 4, 2006, remains on
schedule for an expected closing early in the third quarter of
2007, subject to receipt of regulatory approvals. Thomas A. Renyi,
chairman and chief executive officer of The Bank of New York, said,
"By combining our two leading companies, we will create the premier
asset management and securities servicing firm globally. We are
pleased that our shareholders have endorsed the benefits of this
transaction. Today's votes are two more important steps in
realizing the tremendous potential of the combined organization."
Robert P. Kelly, chairman, president, and chief executive officer
of Mellon, said, "Our new company will be driven by a
client-focused, global team and will be dedicated to outperforming
in every market it serves. We have made terrific progress in
creating an integration plan to ensure superior client service as
well as opening new global opportunities for revenue growth in the
years ahead." The new company, which will be called The Bank of New
York Mellon Corporation, will be among the world's leading
securities servicers, with assets under custody and administration
expected to exceed $18 trillion, and a leading global corporate
trustee, with assets under trusteeship anticipated to be more than
$8 trillion. It also will rank among the top 10 global asset
managers with assets under management exceeding $1 trillion. The
Bank of New York Company, Inc. (NYSE:BK) is a global leader in
providing a comprehensive array of services that enable
institutions and individuals to move and manage their financial
assets in more than 100 markets worldwide. The Company has a long
tradition of collaborating with clients to deliver innovative
solutions through its core competencies: securities servicing,
treasury management, asset management, and wealth management. The
Company's extensive global client base includes a broad range of
leading financial institutions, corporations, government entities,
endowments and foundations. Its principal subsidiary, The Bank of
New York, founded in 1784, is the oldest bank in the United States
and has consistently played a prominent role in the evolution of
financial markets worldwide. Additional information is available at
http://www.bankofny.com/. Mellon Financial Corporation (NYSE:MEL)
is a global financial services company. Headquartered in
Pittsburgh, Mellon is one of the world's leading providers of
financial services for institutions, corporations and high net
worth individuals, providing asset management, private wealth
management, asset servicing, issuer services and treasury services.
News and other information about Mellon is available at
http://www.mellon.com/. The information presented in this press
release may contain forward- looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements, which may be expressed in a variety of ways, including
the use of future or present tense language, relate to, among other
things, statements with respect to the proposed merger of Mellon
Financial Corporation and The Bank of New York, including the
expected closing date of the merger and expectations with respect
to merger and integration related costs and operations after the
merger. These statements are based upon current beliefs and
expectations and are subject to significant risks and
uncertainties. The following risks, among others, could cause
actual results to differ materially from the anticipated results or
other expectations expressed in the forward-looking statements: (1)
the businesses of The Bank of New York Company, Inc. and Mellon
Financial Corporation may not be integrated successfully or the
integration may be more difficult, time-consuming or costly than
expected; (2) the combined company may not realize, to the extent
or at the time we expect, revenue synergies and cost savings from
the transaction; (3) revenues following the transaction may be
lower than expected as a result of losses of customers or other
reasons; (4) deposit attrition, operating costs, customer loss and
business disruption following the transaction, including, without
limitation, difficulties in maintaining relationships with
employees, may be greater than expected; and (5) governmental
approvals of the transaction may not be obtained on the proposed
terms or expected timeframe or at all. Additional factors that
could cause The Bank of New York Company, Inc.'s and Mellon
Financial Corporation's results to differ materially from those
described in the forward-looking statements can be found in The
Bank of New York Company, Inc.'s and Mellon Financial Corporation's
reports (such as Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K) filed with the
Securities and Exchange Commission. All forward-looking statements
in this press release speak only as of the date on which such
statements are made, and Mellon Financial Corporation and The Bank
of New York undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement is made or to reflect the occurrence of
unanticipated events. DATASOURCE: The Bank of New York CONTACT:
Media, Kevin Heine, The Bank of New York, +1-212-635-1569, or Ron
Gruendl, Mellon Financial, +1-412-234-7157; Investors, Kenneth
Brause, The Bank of New York, +1-212-635-1578, or Steve Lackey,
Mellon Financial, +1-412-234-5601 Web site:
http://www.bankofny.com/ http://www.mellon.com/
Copyright
Grafico Azioni Mellon (NYSE:MEL)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Mellon (NYSE:MEL)
Storico
Da Lug 2023 a Lug 2024