Report: M&T Bank, Santander Renew Merger Talks (MTB)

Share |

According to a report in Tuesday's Financial Times, M&T Bank Corporation ( MTB ) and Spanish banker Santander have renewed merger talks involving M&T and Santander's Sovereign Bank.

The two companies had discussed a merger earlier this year, but talks reportedly fell apart in May amid disputes on who would control the combined entity.

In its pursuit of a footprint in the American banking market, Santander bought a 25% stake in Sovereign in 2006, then purchased the remainder of the company in 2009. Its original merger plans with M&T this past spring involved M&T buying Sovereign in an all-stock transaction, then Santander taking control of the new entity and buying a 22.5% stake in M&T owned by Allied Irish Banks.

M&T shares rose $4.95, or +5.8%, in premarket trading Tuesday.

The Bottom Line
Shares of MTB have a 3.28% dividend yield, based on last night's closing stock price of $85.45. The shares are spiking this morning and with that, we see overhead resistance around the $90-$93 price levels.

M&T Bank Corporation ( MTB ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by

This article appears in: Investing , Stocks

Referenced Stocks: MTB

More from

Related Videos

Visualizing Healthcare MG
Visualizing Healthcare MG           
Power on/Power Off IPC
Power on/Power Off IPC              
Spot the Dropout RRC
Spot the Dropout RRC                
Power on/Power Off
Power on/Power Off                  




Most Active by Volume

  • $10.50 ▲ 3.04%
  • $29.22 ▲ 4.62%
  • $16.36 ▼ 0.49%
  • $113.29 ▲ 0.33%
  • $2.39 ▲ 4.82%
  • $5.78 ▲ 0.87%
  • $105.62 ▼ 0.02%
  • $28.42 ▲ 2.53%
As of 8/28/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by