BOSTON (AP) - Investors Financial Services Corp., which provides investment services to hedge funds, investment advisers and banks, said Wednesday its shareholders approved the company's $4.16 billion acquisition by State Street Corp.
Investors Financial shareholders will receive 0.906 shares of State Street common stock for each share of Investors Financial stock held at closing.
The deal is expected to close in early July, subject to regulatory approvals and closing conditions. The company also said the Board of Governors of the Federal Reserve System has approved the proposed acquisition.
Shares of Investors Financial Services slipped 24 cents to $63.23 in afternoon trading, while Boston-based State Street lost 28 cents to $70.17.
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