文档介绍：本科毕业论文(设计)
外文翻译
原文:
Extending due diligence to improve mergers and acquisitions
The$47 billion acquisition of Fleet Bank by Bank of America in April 2004 created the number 3 bank in the United States. With assets estimated at$966 billion, it is exceeded only by Citigroup and bined Bank One Corp. and an Chase.
Bank of America and Fleet may have been 2004’s high-profile banking mergers and acquisitions (M&A) deal; it was not the only one. For example, during the first 10 days of November 2004, Wachovia acquired SouthTrust in a$14 billion deal, Valley National Bancorp’s$141 million acquisition of Nor-Crown was announced and Riverview Bancorp continued its expansion by absorbing American Pacific Bank in a$34 million transaction. There were also the acquisitions of First Washington Financial Corp. by Fulton Financial Corporation, FSF Financial Corp. by Mid-Century Financial Corp. and Snake River Bancorp by munity Bancorp. While many of these munity banks, it is still virtually one merger or acquisition deal every working day.
You can even gamble on future bank acquisitions: Ryan Beck recently launched the “Select Bank Merger Portfolio”, a unit investment trust consisting of bank stocks selected because of their potential for consolidation. This is not a recent phenomenon. Thousands of bank mergers and acquisitions have taken place in the United States alone in the last hundred years.
The volume has fluctuated, but the trend has been broadly upwards, with various authors throughout the 20th century reporting increases in consolidation pared to the past. For example, a sharp rise in bank merger activity was recorded in the early 1950s pared to the preceding decade. Almost mercial banks were
absorbed between 1960 and opinion does not always recognize this longevity though:“The banking industry is consolidating at an accelerating pace, yet no conclusive results have emerged on the benefits of mergers and acquisitions, technological innovations and