European Banks Sit on Cash
This morning's Wall St. Journal Heard on the Street column (subscription required) reports on the large piles of cash held by major European banks and speculates that many of them will use the cash to make acquisitions.
Although share buybacks and dividend increases are a possibility, many predict a rush of deal-making over the coming year, as banks seek ways to boost earnings and help them compete against larger rivals. This could involve anything from small "bolt-on" acquisitions to bigger and riskier ones, with some banks even contemplating large, cross-border European deals.
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