Thursday, May 19, 2005
Standard Chartered Bid rumour
Standard Chartered shares up on rumours of GBP 14bn Bank of America bid – market report
Story: Standard Chartered saw its share price rise 19.5p to 996.5p on whispers of a bid of at least GBP 14bn (EUR 20bn) from Bank of America, a Daily Mail market report said. The UK-listed bank held ‘friendly’ discussions with its US-listed rival several months ago, sources cited by the report said. An agreed deal could now be on the horizon, the sources added.
Bank of America has long been associated with Barclays, the UK-listed bank, according to the report. However, BoA is now keen on acquiring Standard, the newspaper said. Traders cited by the report said the US bank has agreed the acquisition of the 4.76% stake in Standard Chartered held by the family of the late Tan Sri Khoo Teck Puat. Standard Chartered has a market capitalization of GBP 12.9bn (EUR 18.7bn).
Source: Daily Mail
Story: Standard Chartered saw its share price rise 19.5p to 996.5p on whispers of a bid of at least GBP 14bn (EUR 20bn) from Bank of America, a Daily Mail market report said. The UK-listed bank held ‘friendly’ discussions with its US-listed rival several months ago, sources cited by the report said. An agreed deal could now be on the horizon, the sources added.
Bank of America has long been associated with Barclays, the UK-listed bank, according to the report. However, BoA is now keen on acquiring Standard, the newspaper said. Traders cited by the report said the US bank has agreed the acquisition of the 4.76% stake in Standard Chartered held by the family of the late Tan Sri Khoo Teck Puat. Standard Chartered has a market capitalization of GBP 12.9bn (EUR 18.7bn).
Source: Daily Mail
