Mellon Bank Corp. on Wednesday finalized its acquisition of Founders Asset Management Inc., the Denver-based mutual fund company it agreed to buy for a reported $275 million last December.

Founders, which has $7 billion of assets under management, will become a subsidiary of Mellon Bank, and remain headquartered in Denver. The acquisition swells equity assets under management at Mellon's Dreyfus Corp. to about $30 billion through the addition of 11 no-load stock funds. Mellon has roughly $300 billion in total assets under management.

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