November 07, 2024
Business

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

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)


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