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Barclays (BCS) agrees to acquire ING Direct U.K., with the British bank taking on deposits of...

Barclays (BCS) agrees to acquire ING Direct U.K., with the British bank taking on deposits of £10.9B and mortgages of £5.6B, as well as 1.5M customers and 750 employees. The mortgage book has a loan-to-value ratio of 50% as of Aug 31, with Barclays paying a 3% discount but buying the deposit book at par. ING (ING) is taking a €320M after-tax loss on the sale. (PR: Barclays, ING)
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