Cullen/Frost Bankers to buy Summit for $363.5 mln
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Cullen/Frost Bankers Inc.  on  Monday said it agreed to buy Summit Bancshares Inc.   for &#36;363.5 million of cash and stock in a merger of two Texas  banks.
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explanation of market-timing, further attorney comment. Picks up last graf. Also moving on general news wires. DENVER  _ The former chief executive of Invesco Funds Group has agreed to pay $500,000 to
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With a promise to create new types of online banking services, financial software vendor Intuit has agreed to buy financial services provider Digital Insight for $1.35 billion in cash.
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A consortium led by Royal Bank of Scotland  unveiled a bid for ABN AMRO  on Tueday valued at 38.40 euros per share, worth a total 71.1 billion euros ($95.6 billion).
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NEW YORK (CBS.MW) -- UK bank Barclays said Wednesday it has agreed to buy credit-card issuer Juniper Financial from Canadian Imperial Bank of Commerce for $293 million in cash.
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Knowledge Learning Corp. said it signed a deal to buy KinderCare Learning Centers Inc. , which operates preschool and child care facilities, for &#36;550.3 million cash.
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The private equity firm plans to acquire 80% of the common stock in the home appliance and consumer electronics retail chain for &#36;307 million.
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Aug. 18 (Bloomberg) -- Barclays Plc, the UK&#39;s third- biggest bank, agreed to buy Juniper Financial Corp. from Canadian Imperial Bank of Commerce for $293 million in cash to help expand its credit card business in North America.
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(InfoWorld) - With a promise to create new types of online banking services, financial software vendor Intuit has agreed to buy financial services provider Digital Insight for $1.35 billion in cash. Intuit makes the Quicken and QuickBooks financial management software, while Digital Insight provides outsourced Internet banking services to thousands of financial institutions. The companies will build closer ties between the workflows in Intuit's software and the services from Digital Insight, in a bid to make banking online better for consumers and small businesses, they said in announcing the deal on Thursday. "The next generation of online banking will give a more personalized and intelligent user experience that looks more like Amazon or eBay than most financial institutions do today," said Jeff Stiefler, Digital Insight's chairman, president and chief executive officer, in a conference call. Through the deal, Intuit hopes to grow its revenue by persuading more banks to outsource their online banking services instead of building their own, said Steve Bennett, Intuit president and chief executive officer. Intuit has agreed to pay $39 in cash for each share in Digital Insight, a premium over its closing share price of $33 on the Nasdaq stock market Wednesday. The companies together will serve close to 5,000 financial institutions, 25 million consumers and 7 million small businesses, they said. Digital Insight will continue to operate from its facilities in California and Georgia. Its business will be part of a new financial institutions business division within Intuit, with Stiefler serving as its president. The companies expect to close the deal in the first quarter next year, subject to regulatory review, the approval of Digital Insight shareholders, and other closing conditions. Digital Insight grew its revenue by 16 percent in the third quarter of 2006, to $61.9 million, although it reported a loss on a GAAP (generally accepted accounting principles) basis, of $0.76 per share, including expenses related to stock options and a large impairment charge.
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JPMorgan Fleming Asset &amp; Wealth Management on Monday said it plans to buy a majority interest in and enter into a partnership with Highbridge Capital Management, a hedge funds manager, to bolster its presence among hedge funds and
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LONDON/SEOUL  - HSBC  has agreed to buy a 51 percent stake in Korea Exchange Bank (KEB)  from U.S. private equity firm Lone Star for about $6.3 billion in cash to boost its profile in Asia's third-largest banking market.
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TORONTO (CP) - Bank of Montreal and US subsidiary Harris Bank are paying $197.4 million for Indiana&#39;s 19-branch Mercantile Bank as they bolster their successful operations in the US Midwest.
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TORONTO (CP) - TD Bank confirmed Thursday it will buy mid-sized New England retail bank Banknorth for $3.8 billion US in a cash-and-shares deal.
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Toronto Dominion Bank will acquire 51 percent of US-based Banknorth Group Inc. in a $3.8 billion cash and stock deal that will allow TD to expand its reach in the Northeastern United States, TD said Thursday.
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On Sunday, Equity Office accepted a $36 billion offer from the Blackstone Group. It would be the costliest buyout in history.
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Global banking giant HSBC said Monday it had agreed to buy a majority stake in South Korea&#39;s Korea Exchange Bank from US private equity fund Lone Star for about 6.3 billion US dollars (4.6 billion euros) in cash.
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An investor group led by two  well-known Philadelphia-area executives could seal a deal this  week to buy the Philadelphia Inquirer and Daily News newspapers  for up to &#36;600 million, a source close to the matter said on  Monday.