Bank of New York Mellon Approached Northern Trust to Discuss Potential Merger
1. Bank of New York Mellon expressed merger interest with Northern Trust. 2. Northern Trust's market value exceeds $21 billion, up 9% this year. 3. BNY's shares surged over 50% over the past year. 4. A merger would create a $3 trillion investment-management powerhouse. 5. Administration signals increased approval willingness for major banking deals.