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People's United Financial Inc. Message Board

  • shoeguy1956 shoeguy1956 Jun 21, 2013 10:05 AM Flag

    buyout-merger

    wf looking at for east coast exposure //18.50 ish

    Sentiment: Strong Buy

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    • What is the basis for this rumor? Wells Fargo (WF) is already on the east coast, they bought Wachovia a couple years ago. Why does mayell40 think WF is a South Korean company. Who makes this stuff up? There is no "rumor" of a buyout anywhere except on this board where people just wish things would go their way.

      Sentiment: Hold

    • This buy out may be real. People Bank is going up for the last week even if
      Dow Jones is going down considerably. WF has a cash of 34 B.
      It is a South Korean Company.. Is it real they want to buy this Bank.

      JSM

    • slow move which is great--then a 20% premium // poof $18.50

      Sentiment: Strong Buy

    • Can you give us a source or link for this "buyout rumor". I think you are trying to start such a rumor or you are just deluded.

      Sentiment: Sell

    • Take-over-mania has afflicted this stock many times before, and it's doing it again. It looks to me as if First Niagara is getting the same boost. Regionals become super-regionals by buying up smaller banks in their area and then selling out to one of the money-center banks at a premium. The trouble is, it doesn't always work out well for the shareholders. For example, take a look at NorthFork BanCorp that was taken over by Capital One for a virtually zero premium. Conventional wisdom was that they should have gotten about a 20% premium. Instead, senior management gave the bank away in exchange for highly inflated salaries under new employment contracts for themselves. This one could go either way, but I don't trust the senior management of this bank. They'll enrich themselves at the expense of the shareholders and laugh all the way to the bank.

 
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14.94+0.18(+1.25%)Aug 21 4:00 PMEDT

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