Three complaints have been filed in the Court of Chancery seeking to stop the merger of Wilmington Trust Corp. and Buffalo, N.Y.-based M&T Bank Corp., which was announced on Nov. 1.
The deal, which is expected to close in mid-2011, would deliver 0.051 shares of M&T stock for every share of Wilmington Trust stock, according to a joint statement from the banks. The total value is $351 million based on the $74.75 closing price of M&T’s stock the day before the deal was made public.
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