Thursday, June 26, 2008

JPM looking to buy?

At least according to the NY post:

JPMorgan Chase is itching to pull the trigger on one more big bank purchase, even after it bagged Bear Stearns in a Federal Reserve-assisted buyout a month ago.

The New York banking giant has compiled a wish list of coveted institutions, both struggling and strong, according to people familiar with the matter.

Of top interest are Washington Mutual and SunTrust, both of which have already received close looks, according to sources. The list also includes, in order of appeal, PNC Bank, Wachovia Bank and US Bancorp, sources said.

JPMorgan is among a select number of financial institutions seeking to identify potential merger candidates. Others mulling tie-ups are Wells Fargo, PNC Bank and US Bancorp.

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