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Mitsubishi UFJ may buy BNY Mellon unit

Mitsubishi UFJ Financial Group, Japan’s biggest lender, is considering bidding for the corporate trust arm of Bank of New York Mellon Corp. Mitsubishi could pay at least $2.5 billion for the unit, which helps companies process payments on their debt. BNY Mellon, the world’s largest custody bank, was working with Goldman Sachs Group to find buyers for the corporate trust arm. Mitsubishi has been accelerating its drive to grow its footprint outside Japan in recent years because the country’s aging population offers dimmer growth prospects than other countries.

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