Report: JPMorgan in Talks to Buy BoNY's Retail Branches

Meyers, Maxwell
March 2006
Bond Buyer;3/31/2006, Vol. 355 Issue 32351, p6
Trade Publication
The article reports on a report that JPMorgan Chase & Co. will buy Bank of New York Co. retail branches amounting to four billion dollars. According to Richard Bove, equity analyst, this deal was advantageous for both companies, since JPMorgan has shown an interest in developing their retail banking operations and Bank of New York has looked to exit that business. Its was not yet clear if the deal would be of cash transaction or involve a swap of assets.


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