Mergers & Acquisitions: Capital One, BHP Billiton, Wells Fargo and More

Capital One Financial (NYSE:COF) has agreed to buy the U.S. credit card business of HSBC Holdings (NYSE:HBC) for $2.6 billion in cash and stock. The deal with give Capital One over $30 billion in credit card loans. HSBC says the sale represents an 8.75% premium to the gross customer loan balances and the firm will record a post-tax gain of $2.4 billion.

Rumors are flying that mining giant BHP Billiton (NYSE:BHP) could be considering a bid for Lundin Mining (PINK:LUNMF). British newspaper the Daily Telegraph reported that BHP was rumored to be in talks with zinc producer Nyrstar, which has been previously linked to Lundin’s Zinkgruven mine in Sweden, over a joint bid for Lundin.

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Wells Fargo (NYSE:WFC) has won an auction for Bank of Ireland’s (NYSE:IRE) $1.4 billion U.S. commercial real estate loan portfolio. Bank of Ireland sold the portfolio to Wells Fargo at almost face value as part of its efforts to cut its loan portfolio by about $43 billion by the end of 2013.

MMI Investments, which has a 4.9% stake in Check Point Systems (NYSE:CKP), has recommended the company pursue a sale. MMI believes that Checkpoint could be sold at a share price in the “low-to-mid $20s”, well above its current trading price of $14.17.

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