• Mortgage lender M&T Bank is spending $3.7 billion to acquire Hudson City Bancorp, ending the latter's run of 148-plus years as an independent business.
• With Hudson's business branches in New Jersey, downstate New York and Southwestern Connecticut, M&T will stretch from Virginia to New England.
• Hudson said in the second quarter of this year that low rates and other factors made profitable lending unlikely.

From the article:

Hudson City Bancorp will be absorbed by a subsidiary of M&T Bank in a transaction valued at approximately $3.7 billion. ...