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State Street intends to sell common shares

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State Street intends to sell common shares

State Street Corp. plans to sell 13,244,271 common shares in an underwritten public offering.

The Boston-based company intends 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.

State Street will use the net proceeds for general corporate purposes if the Charles River Systems transaction is not completed.

Morgan Stanley is serving as underwriter for the proposed offering.