MT Bank

M&T Bank to Acquire Troubled Wilmington Trust

Wilmington Trust shares plummeted 44% in morning trading Monday as the struggling East coast institution announced M&T Bank would acquire the company in a stock transaction valued at $351 million.

Allied Irish Banks to Sell M&T Bank Stake for $2 Billion

Allied Irish Banks (AIB), the lender being taken over the Irish government, will raise roughly $2 billion by selling its 22.4% stake in M&T Bank Corp (MTB). The Dublin-based bank will offer 26.7 million notes for a price of $77.50 each, Bloomberg News said. The notes will be exchanged for shares in M&T by Nov. 15.