Northern Trust (NTRS) Jumps 8% on Firm Independence

Northern Trust Corporation (NASDAQ:NTRS) is one of the 10 Stocks That Stole Today’s Spotlight.

Northern Trust extended its winning streak to a third straight day on Monday, adding 8.01 percent to finish at $120.81 apiece following commitments to stay independent amid reports that it was offered to be acquired by Bank of New York Mellon Corp (BNY).

“I can tell you that Northern Trust is fully committed to remaining independent and continuing to deliver long-term value to our stakeholders, as we have for the past 135 years,” a spokesperson for the company was quoted as saying in a report by Reuters.

The comment followed a report by The Wall Street Journal that BNY offered to acquire Northern Trust Corporation (NASDAQ:NTRS), with CEOs of both companies having at least one conversation without discussing a specific offer.

Northern Trust (NTRS) Jumps 8% on Firm Independence

A successful investor smiling confidently, looking over a stock market report.

The merger would have established one of the largest asset-servicing businesses with a combined investment under management of more than $3 trillion.

According to figures from LSEG, Northern Trust Corporation (NASDAQ:NTRS)

is valued at $21.76 billion while BNY has a market capitalization of $65.55 billion.

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Disclosure: None. This article is originally published at Insider Monkey.