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State Street prices common stock offering at $86.93 per share


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State Street prices common stock offering at $86.93 per share

State Street Corp. priced a public offering of 13,244,271 common shares at $86.93 apiece.

As previously reported, the company plans to use the net proceeds to fund a portion of the cash consideration payable for, and certain costs associated with, the acquisition of Charles River Systems Inc. Completion of the offering is not contingent upon the consummation of the Charles River Systems deal. If the said transaction is not completed, the Boston-based company will use the net proceeds for general corporate purposes.

Morgan Stanley is acting as underwriter for the offering, which is expected to close July 31.