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Bank of New York Mellon acquires Pinnacle Arbitrage Compliance

Nov 04, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Bank of New York Co., Inc. (The) (BK)

The Bank of New York Mellon Corporation, a financial services company, has acquired Pinnacle Arbitrage Compliance LLC, a provider of arbitrage compliance services for tax-exempt bond issues and conduit borrowers. Both the companies are based in the US.

Announcement (September 2, 2009):

Bank of New York Mellon has signed a definitive agreement to acquire Pinnacle Arbitrage.

The transaction is expected to close by the end of 2009. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Completed: 2009-11-02

Deal Participants 

Target (Company)   Pinnacle Arbitrage Compliance LLC
Acquirer (Company) The Bank of New York Mellon Corporation

Deal Rationale

This acquisition would enhance the services and transparency tools offered by The Bank of New York Mellon to the public finance market in the US.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Bank of New York Co., Inc. (The) (BK)


Related terms: acquisition, bank, bond, finance, financial services, market, new york, tax

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