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Wednesday Express: Massachusetts banks in $54M deal; WellCare buying Meridian

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Wednesday Express: Massachusetts banks in $54M deal; WellCare buying Meridian

* The Federal Reserve governors will hold a meeting today to discuss a proposal to overhaul the Volcker rule.

* Jeffrey Harris, chief economist and director of the division of economic and risk analysis at the U.S. Securities and Exchange Commission, will leave the agency at the end of May.

* In Massachusetts, Independent Bank is buying MNB Bancorp in a cash-and-stock deal valued at approximately $54.2 million.

* Online trading services provider GAIN Capital Holdings is selling its GTX ECN business to Deutsche Börse AG's foreign exchange unit, 360T, for $100 million.

* Private equity firms Madison Dearborn Partners and CoVant Management purchased Los Angeles-based LinQuest, a defense technology solutions contractor.

* Private equity firm Warburg Pincus provided a C$180 million growth equity investment to Canadian producer Artis Exploration.

* WellCare Health Plans is buying Meridian Health Plan of Michigan, Meridian Health Plan of Illinois and pharmacy benefit manager MeridianRx for $2.5 billion in cash.

* WellCare Health Plans CEO Kenneth Burdick said that the Meridian deal gives WellCare optionality on Affordable Care Act marketplaces should exchanges become more stable.

* Similar to Glass Lewis & Co., proxy advisory firm Egan-Jones also urged AmTrust Financial Services shareholders to vote in favor of the go-private deal.

* Following a third year of expansion in new individual long-term care policy issuance, Mutual of Omaha Insurance plans to continue focusing on growth in a limited benefits market.

* National Bank of Canada posts fiscal second-quarter EPS of C$1.44.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.

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