No Delay Expected For State Street's Investors Financial Services Buyout

The Irish Competition Authority cleared the State Street (STT)/Investors Financial Services (IFIN) merger case on June 12, 2007.

The Vermont Insurance Department claims it is not conducting a Form A review and does not anticipated any formal review with respect to this merger. In other words, the Vermont situation involved a simple notification, and should not factor into the timing of the deal in any way.

The Federal Reserve Board has still not acted in this case. This review has not exceeded the projected decision time frame by about three weeks, which is somewhat surprising given the Fed's rapid clearing of major cases in recent weeks. There is absolutely no reason to expect the Fed to create a substantial delay for this deal. Thus, Fed approval is believed to be imminent and should be granted within a matter of days.

Attempts are being made to confirm both Canadian OSFI, and U.K. FSA approvals, which were expected by the companies by this time.

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