Goldman Sachs Eyes BNY Mellon Acquisition Amid Strategic Expansion Plans

Goldman Sachs is reportedly exploring acquisition opportunities, with BNY Mellon (BK) being considered as a potential target. However, sources indicate that the likelihood of Goldman acquiring Northern Trust is low. Goldman may also be focusing on acquisitions in the private credit and non-bank lending sectors. Analysts forecast an average target price of $101.46 for BNY Mellon, with an upside of 0.93% from the current price.

Goldman Sachs (NYSE:GS) is reportedly exploring acquisition opportunities, with BNY Mellon (BK) being considered as a potential target. However, sources indicate that the likelihood of Goldman acquiring Northern Trust is low. Goldman may also be focusing on acquisitions in the private credit and non-bank lending sectors.

Goldman Sachs has reportedly held takeover talks with Northern Trust earlier this year, with discussions nearly resulting in a $6 billion deal [1]. The talks involved a private-markets specialist named Cliffwater but ultimately fell apart due to pricing issues. Northern Trust's stock price rose 3.5% in pre-market trading following the news. The company is currently in play after reports surfaced that Bank of New York Mellon (BK) had expressed interest in merging with Northern Trust in June [2].

Goldman Sachs CEO David Solomon is on the hunt for a "needle-moving" acquisition following the firm's failed venture into consumer banking and amidst the stock's all-time highs, up 47% from a year ago [1]. The firm is also exploring the world of low-fee ETFs, where it has faced challenges in growth.

Goldman Sachs is also reportedly looking to take over smaller financial institutions, with several firms already on its radar [3]. The New York Post reports that Goldman Sachs is considering State Street, the Boston-based financial services giant serving institutional investors with a market valuation of about $30 billion. A State Street spokesperson had no comment on the matter.

Goldman Sachs and BNY Mellon recently announced a joint venture to launch tokenized money market fund services using a blockchain developed by Goldman [4]. This venture is seen as a precursor to a potential merger later on.

Analysts forecast an average target price of $101.46 for BNY Mellon, with an upside of 0.93% from the current price [3].

References:
[1] https://www.ainvest.com/news/goldman-sachs-talks-acquire-northern-trust-6-billion-2507/
[2] https://www.tipranks.com/news/the-fly/goldman-held-takeover-talks-with-northern-trust-amid-hunt-for-deal-semafor-says-thefly
[3] https://dailyhodl.com/2025/07/27/goldman-sachs-on-the-prowl-for-takeovers-eyeing-up-bny-mellon-state-street-and-other-institutions-report/
[4] https://pulse2.com/bny-mellon-and-goldman-sachs-partner-to-launch-tokenized-money-market-funds/