BNY Mellon says M&A ‘a two-sided story’

BNY Mellon (BK), on its Q2 earnings conference call, says M&A is a “two-sided story,” but thinks the bank has the ability to make M&A “work for us in a sensible way.” The company says a large transaction would be a “very high bar” and that “It would have to make a ton of sense. We’d need to have a lot of conviction and execution.” The Fly notes that the Wall Street Journal reported on June 21 that BNY Mellon approached Northern Trust (NTRS) to discuss a possible merger. Shares of Northern Trust are down by about 1.5% in morning trading.