November 30, 2022
(ACBJ) - State Street Corporation and Brown Brothers Harriman & Co. have agreed to pull the plug on State Street’s long-stalled acquisition of BBH’s investor services business, ending a months-long push to renegotiate a $3.5 billion price tag and restructure a deal that likely faced continued regulatory holdups.
Boston-based financial services giant State Street (NYSE: STT) announced the termination of the deal on Wednesday morning. The move comes after regulators indicated approval would only come after further changes to the transaction, requiring more delays.
By Benjamin Kail
