M&T Bank-Hudson City Deal Finally Gets The Fed’s Nod

The Federal Reserve approved the long-stalled merger of M&T Bank and Hudson City Bancorp last Wednesday. The two companies now have until October 31 to complete it. According to each company’s latest quarterly earnings reports, the price of the deal will be approximately $5.5 billion.

M&T proposed merger with Hudson City over three years ago

As outlined by ValueWalk, in August 2012, M&T Bank inked a cash-and-stock deal to acquire Paramus-based Hudson City Bancorp to expand its community banking franchise on the east cost of the United States.

However, the deal was repeatedly delayed as both companies had to grapple with compliance issues. While the $97-billion-asset...