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Capital One Financial Corp
More than 10.000 documents for Capital One Financial Corp
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Capital One Financial Corp. announced intentions to acquire Hibernia Corp. in a $5.4-billion deal a week ago. Surprised analysts are now looking for details on what the transaction means in the long term. People in the market were not surprised Capital One bought a bank and that Hibernia turned out to be a seller, but they were surprised these two companies came together, said Kevin Fitzsimmons, a senior analyst who tracks Hibernia Corp. for Sandler O'Neill of New York. I expected (Hibernia) to be a buyer at least a few more times in Texas and then maybe selling a few years down the road.
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., one of the nation's biggest credit card companies, is expected to announce Monday that it will buy the Hibernia Corp., a regional banking company based in New Orleans, for $5.35 billion, executives close to the deal said Sunday. Capital One, which is based in McLean, Va., has repeatedly told Wall Street that owning a retail bank would help it lower its cost of borrowing, increase deposits and compete more vigorously in the credit card business. The deal for Hibernia, which has $21 billion in assets and more than 300 branches in Louisiana and Texas, would do all those things, the executives said. They added that Capital One was particularly attracted by Hibernia's recent expansion in Texas, which is a growing market for financial services.
