Deals
Allied Irish Plans to Raise $2 Billion in M&T Sale
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Allied Irish Banks Plc, the lender being taken over by Ireland’s government, said it will raise about $2 billion from the sale of its 22.4 percent stake in U.S. lender M&T Bank Corp. to meet stricter capital requirements.
The Dublin-based bank will offer 26.7 million notes at $77.50 apiece that will be exchanged for shares in M&T by Nov. 15, it said in a statement late yesterday. It plans to hold a meeting of shareholders on Nov. 1 to seek their approval.