Blackstone Inc. (NYSE:BX) entered into a definitive agreement to acquire Promontory Interfinancial Network, LLC from The Bank of New York Mellon Corporation (NYSE:BK) and other sellers for $2.5 billion on September 11, 2019. The transaction is subject to customary closing conditions. As of October 4, 2019 Federal Trade commission approved the early termination of antitrust approval waiting period. The transaction is expected to close in the fourth quarter of 2019. Upon the closing of the transaction, The Bank of New York Mellon Corporation expects an after tax gain of approximately $600 million. Nomura acted as financial advisor to Blackstone.

Blackstone Inc. (NYSE:BX) completed the acquisition of Promontory Interfinancial Network, LLC from The Bank of New York Mellon Corporation (NYSE:BK) and other sellers on November 8, 2019.