Topic: Bank M&A

US regulators approve BNP Paribas’ local unit sale to Canada’s BMO

After a year-long approval process, US federal regulators have greenlit the Bank of Montreal’s attempt to purchase BNP Paribas’ US operation, creating the 13th largest commercial bank in the United States.

19 January 2023

“Prolonged” regulatory process scuppers second BMTX-First Sound merger attempt

The US “banking as a service” fintech BMTX has terminated its second merger attempt with a Seattle-based community business bank, citing prolonged regulatory processes as the cause.

06 January 2023

A&O, Linklaters and Wachtell Lipton advising as RBC attempts HSBC Canada acquisition

Canada’s largest bank is seeking to acquire HSBC’s operations in the country, a “once in a generation” domestic bank M&A that looks set to provoke competition concerns in one of the world’s most concentrated banking markets.

01 December 2022

TIAA’s bank sale navigates Fed’s controlling influence rules

Another US insurer has planned to relinquish control over its banking branch amid mounting regulatory requirements on bank-owning insurers, in a deal which leaves no institution with a controlling influence.

09 November 2022

Freshfields and Linklaters advising on Bahrain-Kuwait bank merger

Linklaters and Freshfields Bruckhaus Deringer have completed the first-ever cross-border public bank acquisition to feature a share issuance in the Gulf region, as Kuwait Finance House acquires Bahrain’s Ahli United Bank.

05 October 2022

ANZ to buy insurer’s banking arm while competitive impact debated

Brisbane-based insurer Suncorp Group has agreed to sell its banking arm to Australia’s second-largest bank ANZ, with HSF and Ashurst advising.

20 July 2022

DC Circuit overturns ruling blocking FDIC action on “golden parachute” payments

The US Federal Deposit Insurance Corporation does have the power to block improper “golden parachutes” even where the payment amount is unknown, a US appeals court has ruled, overturning a lower court ruling.

07 July 2022

OCC’s Hsu calls for bank merger policy reform

The United States’ Office of the Comptroller of the Currency will review its approach to bank mergers, its acting head has said, giving his ideas on what such a review may look like after President Joe Biden’s order to regulators to prioritise a bank merger policy change.

11 May 2022

Better together? The future of US bank mergers

The bank merger framework in the United States is under the microscope for the first time in years, after President Biden announced an executive order that could have a lasting effect on how banks conduct business. But what would overhauling the merger framework actually look like?

19 April 2022

Recent US banking mergers: a survey

GBRR looks at the last three years of mergers that have produced banks with over US$100 billion in total assets – and the law firms which acted on them.

19 April 2022

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