According to a Bloomberg report on Tuesday, General Electric
) and Capital One Financial Corp. (
) have submitted bids to buy ING Groep NV's online banking
People with knowledge of the matter reported the sale of ING
Direct USA could raise around $9 billion. A deal could be struck by
the end of June, said the report.
Reportedly, GE has made an all-cash offer for ING Direct, while
COF's bid includes cash and stock. ING Direct is the largest online
bank in the U.S., with deposits totaling $81.6 billion.
Other potential suitors for ING are said to be Ally Financial
Inc., CIT Group Inc. (
), and SJB National Bank.
General Electric shares rose 15 cents, or +0.8%, in premarket
trading Tuesday, while Capital One shares were mostly flat.
The Bottom Line
Shares of General Electric (
) have a 3.25% dividend yield, based on last night's closing stock
price of $18.46. Shares of Capital One Financial (
) have a .39% dividend yield, based on last night's closing stock
price of $50.73.
Neither General Electric Company (
) nor Capital One Financial Corp. (
) are currently recommended, holding Dividend.com DARS™ Ratings
of 3.4 and 3.3 out of 5 stars, respectively.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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