BNY Mellon approached Northern Trust over potential merger, WSJ says

Bank of New York Mellon approached Northern Trust to express interest in merging, Lauren Thomas and Justin Baer of The Wall Street Journal reports, citing people familiar with the matter. The CEOs of BNY and Northern Trust had at least one conversation, but the firms did not discuss a specific offer, the sources added. BNY is considering its next steps, which might include giving Northern Trust a formal bid.