S&P Global Market Intelligence presents a periodic summary of potential deal activity in thefinancial sector, including rumored transactions. This summary is based oninformation obtained on a best-efforts basis and may not be inclusive of allpotential deal activity.
* Refuting rumors it is exploring a sale, ($3.79 billion)President Geoffrey Greenwade said the Houston-based company will likelyannounce another acquisition by the end of 2016.
* In Illinois, Standard Bancshares Inc. ($2.44 billion) engaged theservices of JPMorgan for the management of Standard Bank and Trust Co.'s , say sources for Crain's ChicagoBusiness. PrivateBancorpInc. ($17.26 billion) and First Midwest Bancorp Inc. ($9.73 billion) are said tobe interested.
* Bank ofAmerica Corp. has sent one executive to Silicon Valley to look atpossible financial technology partnerships — or even a purchase — as it pushesfor growth in consumerpayments, according to TheWall Street Journal.
Also to read: Horizon Bancorp plans to generate up to half of its growth fromM&A; HarborOne tobranch out, consider acquisitions; ; ; and United Community Banks is in M&A mode
* CIT Group Inc. will separate its commercial air business as part of its planto become a middle-market bank. The company has already started asale process for the business and is concurrently preparing for spinoff. EllenAlemany, who assumes the role of CIT Group CEO April 1, said thecompany will also exit its Canada and China businesses, as well as theFinancial Freedom reverse mortgage servicing business of , which it in August 2015.
* NorthStar Asset Management's board formed a to continuethe previouslyannounced strategic alternatives process. The committee hashired Evercore Partners Inc. as a financial adviser.
* First MarbleheadCorp. initiatedexploratory discussions with investor John Risley and FP Resources USA Inc. withrespect to a possible acquisition of First Marblehead by FP Resources. FP Resources is owned by Lobster Point Properties Ltd., which is owned by Risley.
* said it iscurrently engaged in discussionswith a potential counterparty about a potential merger or saletransaction. The parent of ZAIS Financial's external adviser is also conductinga strategic review.
*PHH Corp.'s board and management have started acomprehensive reviewof all strategic options, including capital structure and deploymentalternatives.
* Fidelity NationalInformation Services Inc. is reportedly of SunGard's publicsector and education division in a deal that could be valued at more than $1billion, while Thomson ReutersCorp. maysell its intellectual property and science business in two or threeparts, in a deal that could be valued at more than $3 billion.
Also to read: ; Report: ORIX seeks US private equity deals; ; and Report: MasterCard plans £1B bid for Vocalink
* Fosun International Holdings Ltd. is of , just monthsafter acquiringthe last 80% of the major U.S. excess andsurplus lines player. According to an earlier report, the Chinese conglomerate was consideringa partial sale or an IPO of the specialty insurer in a bid to relieve it ofratings agency pressure. However, no final decision has been by the boards ofFosun International and Ironshore regarding the IPO.
* AmTrust Financial Services Inc. has emerged as thefrontrunner toacquire ANV HoldingsBV, the Lloyd's business backed by , The Insurance Insider reported. AmTrustand Argo Group InternationalHoldings Ltd. were the final bidders in the auction process of ANV.
* Enstar GroupLtd., CatalinaHoldings (Bermuda) Ltd. and Armour Group Holdings Ltd are certain U.K.employers' liability books, The Insurance Insider reported. ,The Hartford Financial ServicesGroup Inc. and Allianz Group had their U.K. employers' liability booksup for sale. Enstar and Catalina submittedbids for all three books, but Catalina recently secured the deal for the Allianz business.
Also to read: DelekGroup cancels nonbinding letter of intent for Phoenix Holdings stakesale
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