Banco Bilbao Purchases Compass Bancshares

Eddy Elfenbein submits: It happened again! Another one of my favorite banks is getting bought out. Banco Bilbao Vizcaya Argentaria SA (BBV) is buying Compass Bancshares (CBSS) for nearly $10 billion.

Just to set the record straight, a Spanish bank is buying out an Alabama bank. Let's pause and read the sentence again.

Not only is Compass a Dividend Aristocrat, but it's also in the 10 straight years of increased earnings club. The only other stocks in both groups are Wal-Mart (WMT), Walgreen (WAG) and Synovus (SNV). (Note: There could be a trend here. Synovus is based in Georgia and Wal-Mart hails from Arkansas.)

BBV is offering a 16% premium for Compass. Let's see if another bidder steps forward.

CBSS chart