M&T Bank is in talks with Santander over a possible merger

09/20/2010 | Bloomberg

M&T Bank is considering relinquishing a majority stake to Spain's Banco Santander while keeping some control through a merger with the latter's U.S. division, sources said. The banks are informally talking with the Federal Reserve about the deal, which would allow M&T CEO Robert Wilmers and his team to manage Santander's Sovereign Bank unit.

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