Bank of New York Co. said Wednesday it has signed a letter of intent to purchase the assets of Mendham Capital Group Inc. through its section 20 subsidiary, BNY Capital Markets Inc. No terms were disclosed.

Mendham Capital, based in Roseland, N.J., is an institutional broker- dealer specializing in sales, research, and trading of high-yield, crossover/investment grade securities, and government and agency securities. Mendham's client base includes major mutual funds, money managers, and insurance companies.

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