Handicapping the Three Mega-deals

October 17, 2008

The credit crisis and financial industry meltdown lead to three mega-deals that were announced in rapid succession: Bank of America acquired Merrill Lynch (September 16); JP Morgan Chase won the bidding for Washington Mutual (September 26); and, Wells Fargo beat out Citigroup to acquire Wachovia (October 2). The fact that three of the largest US financial institutions had to sell under duress or outright failure underscores the depth of the problems for financial institutions.

While the buyers all paid substantially less than the selling institution’s market cap of 2007, which of these deals (if any) is destined to be a winner for the buyer? What will be the key variables that make or break the success of each deal? How will FinTech vendors fare?

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