Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, December 12, 2012

OCC approves GE purchase of MetLife deposit business, (NYSE: MET)

The Office of the Comptroller of the Currency has approved MetLife's sale of its deposit-taking business to a unit of General Electric Co's GE Capital, MetLife Inc said on Wednesday. After the sale closes, MetLife said it will move to deregister as a bank holding company.

MetLife, Inc. (MetLife), is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Shares of MET traded higher by 1.2% or $0.4/share to $33.61. In the past year, the shares have traded as low as $27.60 and as high as $39.55. On average, 10640500 shares of MET exchange hands on a given day and today's volume is recorded at 16757218.