Killinger wants this Bank before he sells to Citi. They are in a premium war with Zion who has said to have an offer on the table of $32/share all stock deal. 25% premium for the players. Citi will take over the West Coast in 2005 while rates continue to rise, so will the acquistion junkies like CEO bankers. watch and see,buy up UMPQ now while you can. Lots for sale coming b4 FYE.
Barclays is prime U.S. target, but barriers remain Mon Jan 17, 2005 10:35 AM ET By Sean Farrell LONDON, Jan 17 (Reuters) - Barclays Plc's (BARC.L: Quote, Profile, Research) shares have surged in recent months, fuelled by speculation that the bank could be bought by a U.S. rival, but there are big obstacles to any deal, investors and analysts said.
Shares of Britain's No. 3 bank have been the top performers among UK banks in the past six months, outperforming the FTSE UK banks index by about 14 percent.
As big U.S. banks mull overseas buys because they are restricted at home, Barclays could be attractive to them due to its fast-growing investment banking and fund management arms and businesses in continental Europe.
"You can imagine Barclays might be a good target. They have a good spread of businesses geographically and in terms of business lines," said a fund manager at one of the bank's biggest shareholders.
The most recent report linking Barclays with a U.S. takeover came a week ago in the Sunday Express newspaper, which said the UK lender was in talks last year with Wells Fargo & Co. (WFC.N: Quote, Profile, Research) . Analysts said that deal was unlikely, because Wells Fargo had shown little interest in overseas expansion.
The bank often cited as a possible bidder is Bank of America (BAC.N: Quote, Profile, Research) , which is close to the regulatory 10 percent limit on U.S. deposits after buying Fleet Boston last year for $48 billion.
Carter McLelland, chairman of Bank of America's securities business, told Reuters in November that buying in Europe could help it expand in European bonds and retail banking.
BIGGEST BANK DEAL
One of the main barriers to big cross-border bank mergers is the lack of scope for cost-cutting because there is little overlap between businesses, while investors are often sceptical of management's claims about boosting revenue from acquisitions. But Barclays could give Bank of America efficiency gains.
Barclays' biggest profit driver is the debt-focused Barclays Capital investment bank, which accounted for 23 percent of first-half profit but 40 percent of profit growth.
Other fast-growing units are wealth management and the U.S.-based Barclays Global Investors fund manager. Barclays is also Britain's biggest credit card lender.
"Bank of America has asset management, wholesale banking and capital markets and credit cards. You can put together
a costs story as well as a revenue story," said a UK bank analyst who asked not to be named.
Who knows? I'm not Native American. It's named after the Umpqua River, which flows from Diamond Lake east of Roseburg, OR to the ocean at Reedsport/Gardiner. Great Salmon, bass, and sturgeon fishing. The river was named by local Indians. When I looked at institutional owners, Barclay's was a far larger shareholder than WFC. Show me the Reuters link to the story. And please, if this doesn't substantiate the rumoe, stop spreading it.
When I first read that using all capital letters to post was offensive, I thought it was silly-- but now I find it difficult and uncomfortable to read, and I understand why it's considered shouting. Unless you're really angry at us, would you mind turning off your caps lock, please?
As for the bank, I say again: there have been takeover rumors about UMPQ since they bought my shares of Security Bank back in 2001 or thereabouts. It hasn't happened yet. I don't think it's going to any time soon. I've more than quadrupled my initial investment, and it still has a reasonable P/E and other numbers. It's been my best investment. Wish I could find more like it.