Hey all you Commerce Bank fans, you’re about to become TD Bank customers! No word on what exactly will change, but Canadian TD Bank announced today that it has purchased Commerce Bank for $8.5 billion.
mergers and acquisitions
Bank of America To Layoff 4,000 In LaSalle Bank Merger
By 9.26.07
Buying LaSalle will make BofA (NYSE:BAC) a dominant player in Chicago for the first time. At present, BofA has less than 2 percent of that market’s deposits, according to the Federal Deposit Insurance Corp.
T-Mobile Buys SunCom Wireless
By 9.17.07
If you’re one of the 1.1 million people who use SunCom Wireless, welcome to T-Mobile. According to the Wall Street Journal, T-Mobile purchased SunCom for $1.6 billion and will take over net debt of $800 million. In doing so, T-Mobile increases its subscriber base and its network capacity.
Got Cellphone Service With Unicel? Welcome To Verizon Wireless
By 7.30.07
If you’ve got a cellphone with Rural Wireless (also known as Unicel) your contract has just been purchased by Verizon Wireless.
Bank Of America Wins, Buys Chicago's LaSalle Bank
By 7.18.07
Bank of American managed to fight off a hostile take over by the Royal Bank of Scotland to acquire LaSalle Bank from its parent company ABN Amro. The Dutch Supreme court has cleared the way for Bank of America and conversion seems all but inevitable for all of you LaSalle Bank customers.
IHOP Buys Applebee's for $2.2 Billion
By 7.16.07
The move comes as mid-priced sit-down restaurants are trying to pull themselves out of one of the industry’s worst slumps in several years. A second consecutive summer of high gasoline prices, coupled with declining home values, has eaten into the wallets of the middle-class customers on which Applebee’s built its dining empire.
IHOP is planning on selling all 500 company owned Applebee’s and other real estate in the hopes of cutting costs and to offset some of the debt they had to take on in order to purchase Applebee’s.
By 7.13.07
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Energizer Buys Playtex for $1.16B, declines to purchase the bra and pantie division. The jokes write themselves. [Washington Post]
Google Buys GrandCentral
By 7.3.07
Google has acquired telephone service GrandCentral, and has taken the service “invite only” as they incorporate GC’s technology into Google.
