Although Not Easy, U.S. Bancorp Made a Big Acquisition at the Right Time
The large super-regional lender U.S. Bancorp (NYSE: USB) recently completed its acquisition of Mitsubishi UFJ Financial Group's U.S. banking subsidiary Union Bank more than a year after it initially announced the acquisition in September 2021.
Completion of the deal took longer than the bank expected and certainly hurt U.S. Bancorp's stock price in the near term. But with the deal now complete, U.S. Bancorp should benefit from this large acquisition, and it also looks like they made the deal at the right time. Here's why.
Many large banks took advantage of the low-interest-rate and easy-money environment at a time when banks were struggling to find growth and generate good core returns to make big blockbuster deals that could meaningfully add scale.
Source Fool.com
