M&A News
M&A News: Fubon Financial to buy ING's Taiwan unit
After Friday's announcement of a EUR500 million loss, a fall of almost 30% in its share price and the announcement of a sale of 8.5% of the company to the Dutch Government, ING returns to business-as-usual in disposal of a remote operation that is not generating sufficient return on investment. But it's not going to get money for it.
M&A: UK Treasury confirms it will take majority stake in major bank
The UK Chancellor of the Exchequor, Alistair Darling, made his government's priorities clear yesterday: He and Brown place Europe and the markets ahead of their duty to Parliament. An announcement in relation to the "Bank Reconstruction Plan" was made before the markets opened, Brown went to Europe to fix details with the EU, an event that was broadcast, and only then did Darling go to the House of Commons to tell Parliament what was going on. What is going on is the taking up of almost half of LTSB-HBOS and almost two thirds of RBS, plus appointing directors, which last Wednesday Brown and Blair said they would not do.
M&A: Is UK Gov. going to nationalise banks after all?
Despite the word from Lloyds TSB being that it is still working with HBOS towards the takeover announced two weeks ago, it's becoming increasingly clear that the deal won't happen or, if it does, it will be on hugely different terms. And in the light of that, and the news of the condition of HBOS and RBS being even worse than thought just a week ago, PM Brown is already being forced into a climbdown on the absolute assurances he and Chancellor Darling gave.
M&A: is UK bank bail out thinly disguised state funding of consolidation?
The range of businesses that the UK Treasury will hand over money to is fascinating, given so-called merger-mania in the UK banking sector.
M&A: LTSB buyout of HBOS looking shaky?
LloydsTSB's bid for Halifax-Bank of Scotland may be in doubt as the share price of both companies falls dramatically.
M&A: Lehman Bros fire sale
When ING bought Barings for GBP1, it was a landmark deal. Now Lehman Brothers' european business has been sold for about the same, say some reports. Are there similarities in more than the price? Nigel Morris-Cotterill takes a look.
M&A: waiting to pick up the bits
As the UK went quietly to sleep, a Judge in New York shook up the transatlantic banking sector.
M&A: markets gulp as Lloyds swallows HBOS
Whilst everyone was looking west, the attack came from the south - The Black Horse rode swiftly north and its team rounded up Halifax Bank of Scotland (HBOS) rode off with it. But the watchmen were not asleep - this enormous deal has been pushed through regulatory and legal hurdles without much regard for the niceties of anti-competition review.
M&A: Santander to pick up another UK high-street name.
If there is a surprise in the financial sector this morning, it's that Banco Santander is buying another big UK name for an apparently bargain price – and it's not Bradford and Bingley.
M&A: Malaysia's Maybank on a buying spree
Malaysia has announced two major acquisitions in the past week, building its regional presence in two important markets.