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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.
News For MTB From The Last 14 Days
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December 10, 2014
10:10 EDTMTBHigh option volume stocks
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10:00 EDTMTBOn The Fly: Analyst Downgrade Summary
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06:22 EDTMTBM&T Bank downgraded at Raymond James
As previously reported, Raymond James downgraded M&T Bank (MTB) to Underperform from Market Perform. The firm lowered EPS estimates to reflect more conservative NIM assumptions and the pushout of the Hudson City (HCBK) deal.
06:09 EDTMTBM&T Bank downgraded to Underperform from Market Perform at Raymond James
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December 9, 2014
08:06 EDTMTBHudson City Bancorp and M&T Bank to extend time to complete merger
Hudson City Bancorp (HCBK) and M&T Bank (MTB) announced that they have agreed to extend the date after which either party may elect to terminate the Agreement and Plan of Merger dated August 27, 2012, if the merger has not yet been completed from December 31 to April 30, 2015 pursuant to Amendment No. 3 to the Agreement and Plan of Merger, which has been approved by both the Hudson City and M&T Boards of Directors. The consideration and exchange ratio as provided in the Agreement and Plan of Merger will remain the same.

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