Mitsubishi UFJ Financial Group Inc , Japan's biggest lender, is considering bidding for the corporate trust arm of Bank of New York Mellon Corp, Bloomberg reported on Friday, citing unidentified people with knowledge of the matter.MUFG could pay at least $2.5 billion for the unit, which helps companies process payments on their debt, Bloomberg reported. (r.reuters.com/cat29v)Ron Gruendl, a spokesman for BNY Mellon, said the company does not comment on market speculation. A spokesman for MUFG also failed to comment on the report.BNY Mellon, the world's largest custody bank, was working with Goldman Sachs Group to find buyers for the corporate trust arm, according to reports last month.
Mitsubishi UFJ Financial Group, Inc. is a Japan-based company mainly engaged in the banking business. Shares of MTU traded higher by 0.37% or $0.02/share to $5.43. In the past year, the shares have traded as low as $5.19 and as high as $7.31. On average, 1886900 shares of MTU exchange hands on a given day and today's volume is recorded at 826580.
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