Northern Trust Shares Fall After CEO Dismisses Talk of Takeover

Northern Trust Corp. shares fell as much as 6% after the bank’s management dismissed recent reports of takeover talks and said it doesn’t intend to sell the company.

“Contrary to recent speculation, during my tenure as CEO, we have never entertained discussions regarding the sale of the company with any financial institution, nor do we intend to,” Chief Executive Officer Michael O’Grady said on an earnings conference call Wednesday.

Northern Trust’s headquarters in Chicago.

Photographer: Christopher Dilts/Bloomberg

Semafor reported earlier this month that Goldman Sachs Group Inc. has held takeover talks with Northern Trust. And the CEOs of Northern Trust and Bank of New York Mellon Corp. ...