Business in brief WASHINGTON: MBNA, BANK OF AMERICA SET TO MERGE

loading...
Bank of America Corp. has received approval from the Board of Governors of the Federal Reserve System to merge with MBNA Corp., clearing the way for acquisition of the credit-card company early next year. MBNA, based in Wilmington, Del., employs 3,000 in Maine – 1,900 in Belfast, and…
Sign in or Subscribe to view this content.

Bank of America Corp. has received approval from the Board of Governors of the Federal Reserve System to merge with MBNA Corp., clearing the way for acquisition of the credit-card company early next year. MBNA, based in Wilmington, Del., employs 3,000 in Maine – 1,900 in Belfast, and 1,100 more in smaller offices in Fort Kent, Presque Isle, Farmington, Orono, Brunswick and Portland. The $35 billion acquisition was announced in June by officials of both companies. (AP)


Have feedback? Want to know more? Send us ideas for follow-up stories.

comments for this post are closed

By continuing to use this site, you give your consent to our use of cookies for analytics, personalization and ads. Learn more.