Wilmington Trust Corporation (NYSE: WL) announced that holders of the company's common stock have voted to approve and adopt the merger agreement providing for the acquisition of Wilmington Trust by M&T Bank Corporation.
At a special meeting held earlier today, the merger agreement was approved by more than 93% of the shares voted, which constituted approximately 75% of the total number of shares outstanding as of the record date for the special meeting.
Under the terms of the merger agreement and subject to customary closing conditions, including the receipt of certain regulatory approvals, Wilmington Trust’s stockholders will be entitled to receive 0.051372 of a share of M&T common stock for each share of Wilmington Trust common stock.
About Wilmington TrustWilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 33 countries, and Corporate Client Services for institutional clients in 90 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust and its affiliates have offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam. Forward looking information This news release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act giving Wilmington Trust’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “prospects,” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could,” or “may,” or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks, and uncertainties which change over time. Forward-looking statements speak only as of the date they are made and we assume no duty to update forward-looking statements.