Citi Gets a Good Deal; Ken Lewis Overpaid [View article]
We will look back in a couple of years and kick ourselves in the keister for not loading up with som eof these companies. There will be 4 main banking and financial institutions in the US, BAC, C, JPM and WFC all being dominant and all being able to absorba dn or buy what they did because of market turmoil, no way in hell would regulators let many of these deals happen if it were not for the chaos!!
Gotta say BAC got an absolute steal with countrywide it's accretive right now and if you read in to it further the goverment has given BAC 5 billion in tax breaks if they did the deal, so essentially they did it for nada!! As for Merril Lynch, this is a premier asset bought at a 50% discount and being bought with an all staock transaction, whats better than that, short term dilution but you pick up 1.5 trillion in assets, trading systems worth billions. This will be looked at as a very good deal, and the strong get stronger!!
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We will look back in a couple of years and kick ourselves in the keister for not loading up with som eof these companies. There will be 4 main banking and financial institutions in the US, BAC, C, JPM and WFC all being dominant and all being able to absorba dn or buy what they did because of market turmoil, no way in hell would regulators let many of these deals happen if it were not for the chaos!!
Oct 01 14:33 pm
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All Comments by Short, Short, Short »Citi Gets a Good Deal; Ken Lewis Overpaid [View article]
Gotta say BAC got an absolute steal with countrywide it's accretive right now and if you read in to it further the goverment has given BAC 5 billion in tax breaks if they did the deal, so essentially they did it for nada!! As for Merril Lynch, this is a premier asset bought at a 50% discount and being bought with an all staock transaction, whats better than that, short term dilution but you pick up 1.5 trillion in assets, trading systems worth billions. This will be looked at as a very good deal, and the strong get stronger!!