Top mortgage insurer buys industry's No. 3
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MGIC Investment Corp. , the largest U S mortgage insurer, will buy number three Radian Group Inc. for $4.9 billion in stock to reduce computer and salary expenses in a stagnating market.
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The Manulife Financial Corporation, a Canadian life insurance company, said it would buy the Berkshire-TWC Financial Groupâs mutual fund and securities dealerships to bolster its Canadian wealth management business. Manulife said the deal would double its number of Canadian wealth management advisers and triple its assets under administration in that business. The deal is part of a plan by Manulife of Toronto to expand its mutual funds unit. The takeover creates a sales force of 1,500 independent advisers and a business with about 19 billion Canadian dollars ($17.7 billion) in assets under administration. The price was not disclosed.
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Carlyle Group Inc., the world&#39;s third- biggest buyout fund, agreed to pay $400 million for 24.9 percent of the life insurance subsidiary of China&#39;s third largest insurer, people familiar with the transaction said.
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Business & money: FTSE 100 leaps 3% after rumours of plan to save credit insurers cheered US and Asian markets
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Barclays Plc, the UK&#39;s third-biggest lender, may buy control of South African bank Absa Group Ltd. for at least $3 billion to boost its presence in Africa&#39;s biggest economy.
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MetLife is buying Citigroup's life insurance business in a deal valued at $11.5 billion, a move that strengthens its position in a rapidly consolidating industry.
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HSBC is interested in buying the $3 billion (1.6 billion pound) store and credit card operations of US retailer Federated Department Stores (FD.
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The deal will significantly bolster Bank of Americaâs position in the mortgage market while rescuing Countrywide from the jaws of possible bankruptcy.
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TOKYO (CBS.MW) - General Electric Co. said Wednesday it will buy Australian Financial Investments Group, a holding company for home loan lenders, to boost its mortgage business in that country.
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Real estate investment trust Archstone-Smith  on Tuesday said it agreed to be acquired by Tishman Speyer and investment bank Lehman Brothers Holdings Inc.  in a deal valued at $13.5 billion, reflecting the strong demand for high-end real estate by private investors.
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Citigroup said today that it had agreed to buy the wholesale mortgage origination and servicing assets of Ameriquestâs parent, ACC Capital Holdings, for an undisclosed price.
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Bank of America Corp, the second-largest U.S. bank, is in advanced talks to buy Countrywide Financial Corp, the largest U.S. mortgage lender, a person familiar with the matter said on Thursday.
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Countrywide, Britainâs largest real estate agent, said it had agreed to be taken private by the 3i Group in a deal that values the company at about $1.8 billion. The 3i Group, a private equity group based in London, bid about 551 pence ($10.76) a share for Countrywide, a premium of 90 pence to the stock price on Sept. 13, the day before the private equity company said it planned to approach Countrywide with an offer. Countrywideâs managing director, Harry Hill, and other managers will join 3i as shareholders and continue to run the business.
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Bank of America Corp , the second-largest U.S. bank, is in advanced talks to buy Countrywide Financial Corp , the largest U.S. mortgage lender, people familiar with the matter said on Thursday.
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Toronto-Dominion Bank has sealed its $3.8-billion (US) deal for Banknorth Group Inc., an acquisition meant to set the stage for rapid US expansion and make TD a more attractive
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Aon Corp., the world&#39;s second-largest insurance broker, sold the bulk of its stake in Endurance Specialty Holdings Ltd., a Bermuda-based insurer it helped found after the September 11 terrorist attacks.
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Canada's T.D. Bank Financial Group is buying a controlling stake in Maine-based Banknorth for $3.8 billion.