Deals
U.S. Bancorp Said to Set Plans to Buy Citizens Chicago Branches
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U.S. Bancorp, the biggest bank in the Midwestern U.S., agreed to buy the Chicago branches of Citizens Financial Group Inc., according to a person with direct knowledge of the transaction.
The price is equivalent to twice the target’s book value, or about $600 million, said the person, who asked for anonymity because the sale isn’t public yet. The deal is scheduled to be announced tomorrow before U.S. markets open, the person said.