- Reuters
Exclusive-Regulatory concerns stopped Julius Baer, EFG takeover talks, sources say
Swiss regulatory concerns scuppered talks between private banks Julius Baer and EFG International over a potential tie-up worth some 15 billion Swiss francs ($17 billion), two sources with knowledge of the matter told Reuters. The two banks held talks in early 2024 and reached an agreement in principle, the sources said on Tuesday, speaking on condition of anonymity because of the sensitivity of the matter. But financial regulator FINMA signalled that it had concerns about the potential deal, the sources said.
- Bloomberg
Julius Baer Shares Drop Amid Heightened EFG Deal Speculation
(Bloomberg) -- EFG International AG shares spiked after a report on market speculation that Julius Baer Group Ltd. may soon announce a takeover of its rival.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Struggling Business Park Deals a Blow to Singapore's Regional Hub Ambitions‘Everything Is Not Going to Be OK’ in Private Equity, Apollo’s Co-President SaysVietnam Tycoon Sentenced to Death Faces Ne
- Reuters
Julius Baer considering potential takeover of Swiss rival EFG, Bloomberg News reports
Swiss private bank EFG International has a market valuation of more than $4 billion, according to LSEG data. Julius Baer and EFG International declined to comment on the report. A deal between the two Swiss banks could create a wealth manager with more than 500 billion Swiss francs ($547.11 billion) in assets under management, according to the Bloomberg report.
