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Wells Fargo & Co. (WFC)

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  • Dec. 18, 2012, 9:11 AM
    Angling to offer clients more in the way of hedge funds, Wells Fargo (WFC) purchases a 35% stake in Rock Creek Group, a fund of funds firm with $7B in AUM. While Rock Creek is strictly institutional investor territory, it's hard to believe Wells Fargo doesn't have an eye on a retail offering at some point. (PR)
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  • Nov. 26, 2012, 4:23 PM
    Merit Medical Systems (MMSI) acquires Thomas Medical Products from GE Healthcare (GE) for approximately $167M in cash. MMSI intends to finance the the purchase by expanding it's existing credit facility to $275M, which Wells Fargo Bank (WFC) has committed to provide in a single transaction. The company expects the acquisition to be immediately accretive to net earnings, and expects to take advantage of tax benefits with approximately $43M of net present value.
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  • Sep. 24, 2012, 1:42 PM
    CIT Group (CIT +4.8%) really starts to get its tail in the air as Charlie Gasparino reports the company - led by John Thain for the past 2 years - is shopping itself to big banks. Earlier, Stifel Nicolaus suggested CIT would be an attractive target for Wells Fargo (WFC).
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  • Sep. 24, 2012, 9:29 AM
    CIT Group (CIT) would be an attractive acquisition target for Wells Fargo (WFC), suggests Stifel Nicolaus' Chris Mutascio. Wells' low cost of funds would make a nice combination with CIT's $35B in high-yielding assets, he says, arguing even a purchase price of $52 (a 33% premium) would be a good deal for the buyer.
  • Sep. 5, 2012, 10:01 AM
    Wells Fargo (WFC) should think about beefing up its relatively meek credit card operation by buying Discover (DFS), suggests Susquehanna. Even a purchase price of $46/share - half cash, half stock - would be accretive to earnings in the first year and Discover's management has indicated it would be open to the right deal.
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  • Apr. 27, 2012, 9:13 AM
    Wells Fargo (WFC) gets into the prime brokerage business, buying Merlin Securities for an undisclosed price. Merlin has about 500 hedge fund, family office, and investment adviser clients and about 100 employees. (PR)
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  • Feb. 17, 2012, 5:17 AM
    Ally Financial is reportedly considering a sale of all or part of its auto lending and banking businesses; an IPO is still a possibility, but is looking increasingly remote. Logical buyers for the various pieces include JPMorgan (JPM), Toronto-Dominion (TD), Wells Fargo (WFC) and GM (GM).
  • Jan. 27, 2012, 6:03 AM
    BNP Paribas (BNOBF.PK) is reportedly attempting to sell up to $11B of loans to oil and gas companies as it looks to bulk up its capital buffers. BNP has has received interest from Wells Fargo (WFC) and other U.S. banks, and has been getting offers with a discount of under 5%. The debt has also attracted potential Canadian buyers.
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  • Jan. 5, 2012, 5:24 AM
    China Development Bank and Japan's Sumitomo Mitsui (SMFG) are the finalists in an auction for RBS's (RBS) aircraft leasing unit in a transaction that could be worth up to $7.5B, Reuters reports. With Wells Fargo (WFC) and a Macquarie (MQBKY.PK) led group dropping out, RBS could disclose the winner next week.
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  • Dec. 19, 2011, 8:49 AM
    Bank of Ireland (IRE) agrees to sell U.K.-based lender Burdale to Wells Fargo (WFC) for around €690M ($899M), bringing BOI closer to its target of selling €10B in assets under an EU-IMF bailout. The latest deal takes BOI to €8.6B. (PR)
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  • Nov. 28, 2011, 8:21 AM
    RBS (RBS +8%) is examining final bids for its aircraft leasing business, which could fetch up to $8B, Reuters reports. Those in the running for RBS Aviation Capital are China Development Bank, Wells Fargo (WFC), Sumitomo Mitsui (SMFG) and a Macquarie-led consortium (MQBKY.PK).
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  • Sep. 9, 2011, 5:15 PM
    Wells Fargo (WFC -3.6%), which has less international exposure than many other top-tier U.S. banks, is reportedly weighing a bid for the private-banking arm of Belgium's KBC Group (KBCSF.PK). KBC is required to sell the business as part of a restructuring deal with the European Commission.
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Company Description
Wells Fargo & Co is a diversified financial services company. It provides retail, corporate and commercial banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions.
Sector: Financial
Country: United States