HSBC Holdings to buy CCF in surprise end to long battle

Article Abstract:

HSBC Holdings PLC has acquired Credit Commercial de France (CCF) for 11.08 billion euros. The agreement ended a battle for the bank that lasted for a year.

United Kingdom, HSBC Holdings PLC, Credit Commercial de France S.A.

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Societe Generale confirms taking TCW stake

Article Abstract:

Societe Generale SA acknowledged that it has acquired a majority share of TCW Group Inc. The 70% share was acquired for an estimated 1.36 billion euros.

United States, Investment advice, Investment Advisory Services, Financial services industry, Financial services, Investment advisers, Societe Generale S.A., TCW Group Inc.

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Paribas spurns BNP's proposal to join merger plan

Article Abstract:

Banque Nationale de Paris SA's (BNP) acquisition offer was rejected by the supervisory board of Paribas SA. Paribas said the offer would bring about the end of the bank. Paribas said it is planning to follow through with its merger plans with Societe Generale SA. BNP had made an unsolicited $37 billion offer to acquire both Paribas and Societe Generale in order to create a new banking power in Europe.

Comment:

BNP's acquisition offer rejected by supervisory board of Paribas

Abstract, Paribas S.A., Banque Nationale de Paris (Schweiz) S.A.

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