BNY Mellon prices $700M stock offering
Bank of New York Mellon Corp. on Friday priced an offering of $700 million of its common stock.
Bank of New York Mellon Corp. on Friday priced an offering of $700 million of its common stock.
The 25.9 million shares of common stock were priced at $27 each, it said. It expects the deal to close on Wednesday.
BNY Mellon shares traded Friday at $26.46, down 83 cents, or 3 percent.
BNY Mellon said it intends to use proceeds from the sale for its acquisition of PNC Financial Services Group’s Global Investment Servicing Inc. business or for general corporate purposes. BNY Mellon has said it would pay $2.3 billion for the PNC business.
Goldman Sachs & Co. and Citigroup Inc. are the managers for the stock offering.
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