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GE (GE) and Capital One (COF) reportedly submitted bids last week for ING's (ING) U.S. online...

GE (GE) and Capital One (COF) reportedly submitted bids last week for ING's (ING) U.S. online bank, with GE offering all cash and Capital One offering a cash-stock mix in a deal that could cost as much as $9B. Sources say an announcement may come later this month.
Comments (1)
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Uncertain capital requirements, unknown Dodd-Frank repercussions and severely beaten down stock valuations are likely to result in more divestitures and resulting consolidations of the financial services industry. Don't be fooled by persistent industry naysayers, there will be winners and they will eventually be very profitable because there will be less competition. I don't know when but it will happen.
    7 Jun 2011, 06:44 AM Reply Like
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