Shareholders Approve Japanese Deal to Create World’s Largest Bank

Shareholders of Mitsubishi Tokyo Financial Group Inc. and UFJ Holdings Inc. approved Mitsubishi Tokyo’s acquisition of UFJ, paving the way for the creation of the world’s largest banking group by assets.

Mitsubishi Tokyo, Japan’s second-largest bank, will absorb UFJ, the nation’s fourth-largest bank, on Oct. 1, creating an institution with assets of about 190 trillion yen ($1.7 trillion), surpassing U.S. financial giant Citigroup Inc.