Deals
U.S. Bancorp Joins Finance Merger Wave With $8 Billion Deal
- Acquisition of MUFG Union offers expanded West Coast presence
- U.S. regional banks are pairing up to compete with Wall Street
U.S. Bancorp signage outside a bank branch in Lexington, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
U.S. Bancorp ended years of speculation with its $8 billion acquisition of MUFG Union Bank NA, joining the wave of consolidation sweeping U.S. regional banks.
“We’ve all kind of waited a decade for it,” R. Scott Siefers, an analyst at Piper Sandler, said on a conference call with company executives after the deal was announced Tuesday.