15 Dollars is more likely a takeover price than 12 dollars. But, I doubt it's going to happen. During the last round of bank mergers and takeovers in the 1990's bank could have been scooped up with all the others in the area by Citizens (RBS) , but it never happened. And I don't think it's going to happen now. I think this time the bank is going to expand adn during the coming good times, it will prosper. Also, RBS is in a world of crap itself right now and may have to begin selling off assets rather than accumulating them.