Royal Bank of Scotland (NYSE:RBS) may be the next bank in line to face a massive fine for allegedly engaging in the Libor rate fixing scandal. According to reports, it may have to pay as much as £350 million, which is somewhat higher than the fine of £290 million imposed on Barclays (NYSE:BCS), and much lower than last week’s fine of £1.2 billion on HSBC (NYSE:HBC) for allegedly laundering cash on behalf of questionable entities such as Mexican drug smugglers and banned states such as Iran.
RBS rival UBS (NYSE:UBS) is also said to be negotiating its penalties for Libor, which could reach as much as $1.5 billion, according to Swiss media reports.
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German holding company Joh A Benckiser Group is to acquire Caribou Coffee (NASDAQ:CBOU) for approximately $324.8 million, paying $16 per share for Caribou’s 20.3 million outstanding shares. The price is a 30% markup on Caribou’s Friday close of $12.32. Post acquisition, Caribou Coffee will remain as an independent company with its own brand and management team.