Exchange 22 is owned by Nasdaq, Inc., one of the world's leading stock exchanges. Established in 1992, the Indian National Securities Exchange (NSE) was demutualized in 2003 and is still largely owned by banks and insurance companies. The Tokyo Stock Exchange (TSE) and Osaka Stock Exchange (OSE) are two of the oldest stock exchanges in the world, with TSE being founded in 1878. In 2011, a proposed transaction for the London Stock Exchange Group to acquire TMX Group, owner of the Toronto Stock Exchange, failed when Toronto shareholders rejected it. The main attractions of the proposed transaction included Lazard acting as financial advisor to M&T Bank Corporation in relation to the transaction, and Sullivan & Cromwell LLP serving as legal counsel. Keefe, Bruyette & Woods, a Stifel company, served as chief financial advisor to People's United.
Morgan Securities LLC also served as financial advisor and Simpson Thacher & Bartlett LLP served as legal counsel to People's United. M&T Bank Corporation is a financial holding company based in Buffalo, New York. Its main banking subsidiary, M&T Bank, operates bank offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by companies affiliated with the Wilmington Trust of M&T and by M&T Bank. This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations, estimates and projections about the businesses of M&T and People's United, the beliefs of the management of M&T and People's United, and the assumptions of the management of M&T and People's United. Any statement that does not describe historical or current events is a forward-looking statement, including statements about the timing, completion and expected effects of the proposed transactions and the expected financial results, prospects, goals and perspectives of M&T and People's United.
Forward-looking statements are usually identified with words such as believe, expect, anticipate, intend, point, estimate, continue, positions, perspectives or potential, with future conditional verbs such as will, would, would, should, could or could, or by variations of such words or similar expressions. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions (future factors) that are difficult to predict. Therefore, actual results and results may differ materially from what is expressed or expected in such forward-looking statements. These are representative of future factors that could affect the outcome of the forward-looking statements. In addition, such statements could be affected by general industry and market conditions and growth rates, general economic and political conditions, either domestically or in the states in which M&T, People's United or their respective subsidiaries operate, including fluctuations in interest rates and the exchange rate of currencies, changes and trends in stock markets, and other future factors. The M&T provides more details on these risks and uncertainties in its latest Form 10-K and later in Form 10-Q including the respective risk factor sections of those reports as well as in subsequent filings with the SEC. Forward-looking statements refer only to the date on which they were made and M&T assumes no obligation or undertakes to update the forward-looking statements. That's why we've created a banking experience with you in mind.
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