Barclays is reportedly looking at a potential merger with Standard Chartered

Barclays is reportedly looking at a potential merger with Standard Chartered

Barclays has spoken to its rival bank Standard Chartered about a potential merger but no formal or informal bid was made, the Financial Times reported on Wednesday, citing two unnamed sources. Barclays told CNBC it has no comment on the report. Two unnamed sources close to the bank, cited by Reuters, said there was no truth in the rumor and it wasn’t exploring any potential mergers with other lenders. Stanchart said it’s “entirely focused on…

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US has more than 5,600 banks. Consolidation is coming

US has more than 5,600 banks. Consolidation is coming

The US’s banks have largely sat out the mergers and acquisitions wave of recent years. While deal records have fallen in almost every other sector, big banks have done almost nothing, shrinking rather than expanding. And merger activity among small and mid-sized banks — some 5,607 of them, at last count — has been subdued. But when Fifth Third Bancorp of Cincinnati revealed its $4.7bn swoop for Chicago’s MB Financial on Monday morning, shares in…

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Blackstone to buy LaSalle Hotel for $3.7 billion

Blackstone to buy LaSalle Hotel for $3.7 billion

Private-equity firm Blackstone said on Monday it would buy U.S. hotel owner LaSalle Hotel Properties for $3.7 billion, topping a rival bid from Pebblebrook Hotel Trust in April for $3.5 billion. The deal values LaSalle at $33.50 per share compared with Pebblebrook’s offer of $31.75 per share and represents a premium of 5 percent to LaSalle’s closing price on Friday. Pebblebrook raised its offer in April after LaSalle rejected it a previous bid, saying it…

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Roper Technologies to buy software firm PowerPlan for $1.1 billion

Roper Technologies to buy software firm PowerPlan for $1.1 billion

IT services provider Roper Technologies said on Monday it would buy software company PowerPlan for $1.1 billion in an all-cash deal from private equity firm Thoma Bravo. This is Roper’s second billion-dollar deal with the private equity firm. In 2016, it bought business software firm Deltek for $2.8 billion. Thoma Bravo bought PowerPlan, which provides tax, regulatory and budgeting solutions to businesses, in 2015 from investors JMI Equity and TPG Growth for an undisclosed price….

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Fifth Third Bancorp to buy MB Financial for about $4.7 billion

Fifth Third Bancorp to buy MB Financial for about $4.7 billion

U.S. regional bank Fifth Third Bancorp has agreed to buy smaller rival MB Financial in a stock-and-cash deal valued at about $4.7 billion as it looks to expand in Chicago and broaden its middle market customer base. A windfall from last year’s Republican tax overhaul has encouraged more investment among mid-sized U.S. lenders and banks are also hopeful that legislative moves to roll back some rules on capital requirements will free up more cash. That…

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Data firm IHS Markit to buy rival Ipreo for $1.86 billion

Data firm IHS Markit to buy rival Ipreo for $1.86 billion

Data firm IHS Markit said on Monday it will buy smaller rival Ipreo from private-equity funds of Blackstone and Goldman Sachs for $1.86 billion to expand its contracts business and shore up its financial services operations. IHS, whose diverse set of businesses range from selling data on automotive and technology industries to publishing Jane’s Defence Weekly, said the deal will be funded through debt financing from HSBC. The deal is a windfall for the buyout…

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GE nears deal to merge transportation unit with Wabtec, may value combined company at $20 billion, sources tell Reuters

GE nears deal to merge transportation unit with Wabtec, may value combined company at $20 billion, sources tell Reuters

General Electric is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec, a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. A deal that could value the combined company at more than $20 billion could be announced as early as this week, the sources said, asking not to be identified because the negotiations are confidential. It would be the biggest deal…

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Ambow Education Holding Ltd. (AMEX:AMBO) IPO

Ambow Education Holding Ltd. (AMEX:AMBO) IPO

Ambow Education Holding Ltd. (AMEX:AMBO)intends to raise $6 million from the sale of ADSs representing Class A shares in a U.S. IPO, according to an amended registration statement. Ambow Education will be landing NYSE MKT, and IPO price range is 3.50-4.50. Ambow Education Holding Ltd. mission is to provide Better Schools, Better Jobs and Better Life to their students. Ambow Education business addresses three critical demands in China’s education market: the desire for students to…

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Staples-owner Sycamore offers to buy workplace wholesaler Essendant

Staples-owner Sycamore offers to buy workplace wholesaler Essendant

Staples-owner Sycamore Partners on Wednesday reported a roughly 9.9 percent stake in workplace wholesaler Essendant and its offer to buy the rest of the company for $11.50 per share in cash. Shares of Essendant, which closed at $11.03 a share, were up 2.45 percent in after-market trading, giving it a market capitalization of $415 million. Sycamore’s offer is the clearest indication to date of its plans to push Staples further into business-to-business services and away…

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Williams to buy rest of Williams Partners in $10.5 billion deal

Williams to buy rest of Williams Partners in $10.5 billion deal

Pipeline operator The Williams Cos. said on Thursday it would buy the remaining 26 percent stake that it does not already own in its master limited partnership, William Partners, for $10.5 billion. Williams would give 1.494 of its shares for each share of Williams Partners, with the offer representing a premium of 6.4 percent based on Wednesday’s closing price. The company said the deal will immediately add to cash available to dividends extending the period…

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