Wilmington Trust and M and T Bank to Merge

Wilmington Trust and the M&T Bank Corporation said on Monday that they would merge, creating a major lender in the eastern United States and a global provider of wealth management.The deal is a stock-for-stock transaction in which Wilmington shareholders will get 0.051372 shares of M&T for every share of Wilmington. The deal is worth $351 million and is expected to close in the middle of next year.
M&T is based in Buffalo and holds $68.2 billion in assets, while Wilmington has $10.4 billion in assets, and is based in Wilmington, Del.
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