Banco Sabadell To Buy Up Mellon United

Law360, New York (July 27, 2009, 2:54 PM ET) -- Spain’s fourth-largest bank, Banco de Sabadell SA, will acquire Bank of New York Mellon Corp. subsidiary Mellon United National Bank, in a move that could bring the Spanish bank's total business volume to $6.4 billion, the companies announced Thursday.

Banco Sabadell said the stock purchase deal to buy the southern Florida-based trust should close by the first quarter of 2010, though the price tag was not disclosed.

The acquisition marks the Spanish bank’s third major transaction in the U.S., following its deals to buy TransAtlantic Bank...
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