Computershare Ltd. (CPU.AU) said Monday its US$550 million takeover of Bank of New York Mellon Corp.'s (BK) investor-services business has been approved by U.S. regulators, sending its shares soaring 13% in early trade.

Computershare said it expects the deal to close on or around Jan. 1.

The deal makes Melbourne-based Computershare, the world's largest provider of share-registry services, the dominant U.S. player by far and some investors had feared that it may not receive anti-trust clearance.

BNY Mellon and Computershare are the biggest and second biggest U.S. providers of transfer-agent services.

Transfer agents keep records of investors, issue and cancel ownership certificates, facilitate dividend payments and mail annual reports to shareholders, among other functions.

 
   -By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com
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