Banco Bilbao Buys U.S. Bank Compass for $9.6 Billion

“Banco Bilbao Vizcaya Argentaria SA, Spains second-biggest bank, agreed to buy Compass Bancshares Inc. for $9.6 billion to add more than 400 branches in six southern U.S. states.

Investors in Birmingham, Alabama-based Compass will get $71.82 in cash or 2.8 new BBVA shares for each share, the Bilbao, Spain-based bank said today in a filing. The cash bid is 8.2 percent more than Compasss closing price yesterday.”

Stumble it! | |

Other posts that may interest you

Weatherford bankers watch as Spanish bank buys Compass - Texas

Spains BBVA to Acquire Compass Within Months

Spanish Bank BBVA's Profit Up

Anita Santiago Advertising Named Hispanic Agency of Record by Compass Bank

Largest Dominican bank earned RD$2.9B in 2007

Spain's Banco Popular to buy U.S. TotalBank for $300 mln

Federal Reserve OK's Spanish bank's $2.2B purchase of Texas Regional

Organizers hope banking endeavor can tap into growing Hispanic market - Greenville, North Carolina

Banco Sabadell acquires BBVA Private Banking business in Miami

Hispanic firm buys Gainesville bank in Georgia