Fed approves Fifth Third Bancorp's deal to buy MB Financial – MarketWatch

The Federal Reserve on Wednesday approved Fifth Third Bancorp’s

FITB, -2.15%

purchase of Chicago-based MB Financial

MBFI, -1.82%

Fifth Third agreed to buy the bank for $4.7 billion, mostly in stock. When the deal is completed, Fifth Third will become the 21st largest insured depository institution in the United States, the Fed said.

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