M&T Bank (MTB) will acquire ailing Wilmington Trust (WL), with $10.4B in assets, in a $351M...

|By:, SA News Editor

M&T Bank (MTB) will acquire ailing Wilmington Trust (WL), with $10.4B in assets, in a $351M deal. The buyout values Wilmington at $3.84/share, a 46% discount to Friday's close, added to WL's 39% drop this year. This morning, Wilmington said its Q3 loss widened and its loan-loss provisions soared amid mounting losses. WL -44% to $4 premarket.