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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - March 17, 1997
MELLON BANK CORPORATION
(Exact name of registrant as specified in charter)
Pennsylvania 1-7410 25-1233834
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Mellon Bank Center
500 Grant Street
Pittsburgh, Pennsylvania 15258
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code - (412) 234-5000
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
By press release dated March 17, 1997, Mellon Bank Corporation (the
"Corporation") and Buck Consultants, Inc. announced that they have
signed a definitive agreement by which the Corporation will acquire
Buck Consultants, Inc.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit
Number Description
99.1 Mellon Bank Corporation Press Release, dated March 17, 1997, announcing
the matter referenced in Item 5 above.
MELLON BANK CORPORATION
Date: March 19, 1997 By: STEVEN G. ELLIOTT
Steven G. Elliott
Vice Chairman, Chief Financial
Officer & Treasurer
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EXHIBIT INDEX
Number Description Method of Filing
99.1 Press Release dated March 17, 1997 Filed herewith
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[LOGO OF MELLON] [LOGO OF BUCK CONSULTANTS]
Mellon: Buck:
------- -----
Media: Stephen K. Dishart Ed Gadowski
(412) 234-0850 (201) 902-2565
Analysts: Donald J. MacLeod
(412) 234-5601
FOR IMMEDIATE RELEASE
MELLON SIGNS DEFINITIVE AGREEMENT
WITH BUCK CONSULTANTS, INC.
PITTSBURGH, March 17, 1997--Mellon Bank Corporation and Buck
Consultants, Inc. today announced that they have signed a definitive agreement
by which Mellon will acquire Buck Consultants, Inc., a leading global benefits
consulting firm. As previously announced in December 1996, Mellon and Buck
signed a letter of intent to form a strategic combination that will create a
leader in the rapidly growing business of corporate benefits outsourcing. Buck
shareholders will have the option to receive Mellon common stock or cash. Other
terms of the agreement were not disclosed. Mellon Bank Corporation has
authorized the repurchase of a number of shares of Mellon common stock, up to
that number that will ultimately be issued in connection with the acquisition.
Buck, a privately held firm with headquarters in New York, provides a
broad array of pension and health and welfare actuarial services, and employee
benefits, compensation and human resources consulting and administrative
services. Upon completion of the transaction, which is subject to regulatory
approval and the approval of Buck's shareholders, Buck will operate as a Mellon
subsidiary under the direction of its current management team, and will retain
its identity and its operational and professional independence.
With balance sheet assets of approximately $43 billion and assets
under management or administration of approximately $1.3 trillion, Mellon Bank
Corporation is a major financial services company headquartered in Pittsburgh;
its primary subsidiary is Mellon Bank, N.A. Mellon provides a full range of
banking, investment and trust products and services to individuals and small,
midsize and large businesses and institutions. Its mutual fund business is The
Dreyfus Corporation.
Press releases and other information about Mellon Bank Corporation and
its products and services are available on the Internet at
http://www.mellon.com. For Mellon press releases by fax, call 1 800 758-5804,
identification number 552187.
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