This Week
  • The seven Rochester Business Ethics Awards finalists are profiled.

  • Rochester mourns the loss of Larry and Jane Glazer.

  • Vibrant, updated properties can be easier to market than older ones.

  • When Robert Titus joined Innovative Solutions, he "had no idea" he'd become CEO.

  • For Christian Flooring owner Christian Curts, diversification has been a key factor in his success.

  • Robert Linton guides Jazz 90.1 through a new era in media.

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