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Stock Market & Financial Investment News

News Breaks
February 12, 2014
08:59 EDTMTBM&T Bank issues revised FY13 results based on litigation settlement
M&T Bank reported that on February 10, it reached a settlement in the previously disclosed matter of Mennen, et al v. Mennen, Wilmington Trust Company, et al that was scheduled for a trial to commence yesterday in the Delaware Chancery Court. Following that settlement, M&T recognized an increase to its reserve for litigation as of December 31, 2013 of $40M that reduced net income from that which M&T reported on January 17 by $24M. The impact on diluted earnings per common share was 18c for each of the quarter and the year ended December 31, 2013.
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August 28, 2014
07:24 EDTMTBLong delay for M&T, Hudson tie-up raises questions, chills mergers, WSJ says
Regulators at the Federal Reserve have held up M&T Bank's (MTB) planned $3.7B acquisition of Hudson City Bancorp (HCBK) for two years, raising questions about why it is taking so long to close the deal and potentially also making other banks afraid to do deals, said The Wall Street Journal. Reference Link

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