Hongkong & Shanghai Bank Set To Buy Midland FX Desks In London, N.Y., Tokyo To Be Merged?
BANKS
The Hongkong & Shanghai Bank and Midland Bank stunned the financial community this week with a surprise announcement that after years of mooting a merger the wedding is finally to take place. HKSB will buy 100 percent of the U.K. bank at a "significant premium" to the current Midland stock price, the two announced in a brief statement to the press.
HKSB already owns 14.9 percent of Midland, which it acquired in 1987. The two banks will retain their own identities in their respective markets, a
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