M&A
M&A
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Given the size of the deal — which includes about $9 billion of Worldpay’s debt on top of a $34 billion bid — the pressure’s on to build a global powerhouse that can counter other major fintech mergers announced in the past weeks. FIS must also emerge as a nimble rival to the startups that threaten the old order.
March 18 -
The $35 billion deal could create "a global payments giant"; with the number of community banks dropping as low as 5,477, it may be time for new ones.
March 18 -
The financial services technology company FIS has agreed to buy Worldpay. The deal is valued at $43 billion and will allow FIS to counter the transaction processing scale Fiserv received when it acquired First Data this year. The merger price is based on a $34 billion bid plus $9 billion of Worldpay's debt.
March 18 -
Mechanics, owned by a fund tied to investor Gerald J. Ford, will pay $2 billion for Rabobank in California.
March 15 -
BB&T-SunTrust deal came together with remarkable speed; Citi and Chase take on fintechs at their own game; CECL spells trouble for small banks, consumers; and more from this week’s most-read stories.
March 15 -
PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.
March 15 -
The Federal Reserve and Federal Deposit Insurance Corp. will hold two public meetings to consider the deal's impact on the U.S. banking system.
March 14 -
Gateway Mortgage Group says its launch of a digital-only bank is scheduled for this summer.
March 14 -
The small Wisconsin city features a vibrant economy, low employment and a growing population, but banks that want to buy their way into the market have their work cut out.
March 14 -
Among other accomplishments, Dresang engineered a merger that brought more than a dozen credit unions together to create Community First.
March 14 -
European banks need to look beyond their home countries for mergers in order to tap the region's full economic power and become more competitive, JPMorgan Chase Chief Executive Jamie Dimon said.
March 14 -
East Windsor, N.J.-based McGraw Hill Federal Credit Union will merge into PenFed, the latest in a series of growth moves from the nation's third-largest credit union.
March 13 -
The regional bank, which recently agreed to buy SunTrust, is co-developing a game to help elementary-school kids learn to read.
March 13 -
The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.
March 12 -
Big bank mergers have historically been a catalyst for startups. Experts say it could happen again.
March 12 -
Loyal Trust Bank will have a large number of Asian-American investors and board members.
March 12 -
Mastercard is bringing Ethoca—a fraud solution powered by collaboration between banks and merchants—in-house.
March 12 -
A Deutsche Bank and Commerzbank merger would face many hurdles; the mini-branch will have longer hours and cater to small companies.
March 12 -
It took less than six months to hammer out the biggest bank merger in more than a decade, and the price was one of the last things discussed, according to a new federal filing.
March 11 -
Bank employees say management has not let up on ambitious sales goals; women bankers say UBS cut bonuses after maternity leave.
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