WASHINGTON, Aug 17 (Reuters) – The U.S. Treasury Department
on Friday said it had priced an offering of preferred shares of
M&T; Bank Corp as part of its unwinding of financial
crisis bailouts for expected proceeds of about $381.5 million.
Treasury said it priced a secondary offering at par of the
230,000 shares of M&T; Bank Corporation Fixed Rate Cumulative
Perpetual Preferred Stock, Series A, and 151,500 shares of M&T;
Fixed Rate Cumulative Perpetual Preferred Stock, Series C.
After this offering, Treasury will no longer hold any shares
of the Buffalo, New York-based bank’s preferred stock. Treasury
said it will continue to hold warrants to purchase 1,721,447
shares of M&T;’s common stock – the disposition of which will
provide additional proceeds to taxpayers.
