Du Pont founded, Wilmington Trust Corporation of Delaware has agreed to allow M&T Bank Corporation to acquire them for $351 million in company stock. This is 46% less than they were valued at last week.

Wilmington Trust has been struggling quite a bit lately. They have reported 5 straight quarters of losses. They were about to report their 6th straight quarterly loss before the acquisition.

When asked about the acquisition, M&T Bank’s CEO Robert G. Wilmers said, “We are building an even more powerful franchise with strength and stability, scale and density and top-of-class products and services.”

At the time this article was written, M&T Bank Stock (NYSE MTB) was up 3.80% to $77.59 for the day.

Stock holders of Wilmington Trust (NYSE WL) look to lose approximately 46% of the money they had invested in the company, after the acquisition.