This Week
  • LiDestri plans $6M expansion and to add 29 jobs.

  • Mark IV Enterprises has built some of the area's most notable projects.

  • Low interest rates prompt smaller banks to seek other ways to boost profit.

  • Auction Direct's growth strategy is to increase sales volume in existing locations.

  • The Schools Report Card has rankings for 27 districts and more than 250 schools.

  • Ram Balasubramanian works on engineering projects around the globe.

Treasury Dept. closes offering to buy M&T shares

Rochester Business Journal
December 19, 2012

The U.S. Department of the Treasury has closed a secondary public offering of warrants allowing it to purchase shares of M&T Bank Corp. stock.

The closing of 1,218,522 warrants came Monday, the Buffalo-based bank said in a filing with the U.S. Securities and Exchange Commission.

Each of the warrants entitled the Treasury to buy one share of common stock at par value of 50 cents a share, the filing states. The warrants have an exercise price of $73.86 a share and expire Dec. 23, 2018.

The public offering commenced Dec. 11, SEC documents state. The price of the warrants, as determined by an auction process, was equal to $26.50 per warrant.

The Treasury granted the warrants to M&T in December 2008 as part of a $600 million preferred stock investment in the bank from the Troubled Assets Relief Program.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google