US Bank’s MUFG Union Bank Acquisition to Close Dec. 1

Mitsubishi UFJ Financial Group (MUFG) reported that the final required regulatory approvals for the sales of MUFG Union Bank to U.S. Bank have been obtained, with the acquisition now expected to close on Dec. 1.

As reported earlier this week, U.S. Bank received all required U.S. regulatory approvals to complete the previously announced acquisition of MUFG Union Bank’s core regional banking franchise from MUFG.

The acquisition was first announced in September of 2021, with the closing date originally set for the first half of 2022 before later being pushed to the second half of the year.