The Bank of New York and Mellon Financial's Plan of Merger Receives Federal Reserve Approval
14 Giugno 2007 - 11:46PM
PR Newswire (US)
NEW YORK and PITTSBURGH, June 14 /PRNewswire-FirstCall/ -- The Bank
of New York Company, Inc. and Mellon Financial Corporation
announced today that the Federal Reserve has approved their
application to merge. The companies also received Hart-Scott-Rodino
antitrust clearance for their proposed merger from the Department
of Justice on June 4. Integration planning for the proposed merger,
which was first announced on December 4, 2006, has been proceeding
smoothly. In addition to the Federal Reserve approval and antitrust
clearance, The Bank of New York and Mellon each received
overwhelming approval from shareholders on May 24, 2007. The
companies, subject to receipt of remaining regulatory approvals
including those from certain state and foreign governmental
authorities, are making plans to close the proposed merger on or
about July 1, 2007. The new company will be one of the leading
asset management companies globally with assets under management
exceeding $1 trillion and will be among the world's leading
securities servicers with more than $18 trillion in assets serviced
by the firm. 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/. DATASOURCE: Bank of
New York Company CONTACT: Kevin Heine of Bank of New York Company,
+1-212-635-1569; or Ron Gruendl of Mellon Financial,
+1-412-234-7157 Web site: http://www.bankofny.com/
http://www.mellon.com/
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