Alright. I've seen a lot of comments about this place being up for sale or a merger. Does anyone have concrete knowledge about whether or not this has merit?
I know wall Street hates us, and isn't looking very positively at our upcoming CEO change.
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USB won’t be the one that’s purchased. They would be the buyer, part of the aggressive growth plans they have.
Investors are not impressed. That is a fact.
In regards to the merger / sale comment, I am honestly 50/50. With the layoffs and major budget cuts and other red flags we will likely see one of the two within the next year / year and a half.
FAKE
All bets are off once GK is officially in charge. Her and the McKinsey cronies only know how to operate one way. They’re all consultants and can’t think beyond the immediate and what is right in front of their nose. All they see is a “Grow at all costs” mandate and if that means another acquisition she won’t hesitate for a moment. This is what happens when mo--nic consultants get brought in to run a bank. McKinsey and their evil ilk prey on weak CEOs and executive teams - such a sad fall from grace from the RD days. AC was handed an extremely well running machine and like any over privileged next generation in history, squandered it exactly as you’d have expected him to.
Its a done deal
Who cares?
Zero appetite in the market for this merger of equals nonsense. Lesson was learned from the Truist fiasco. It will take a much larger entity to buy either bank and Truist would be a more likely acquisition because of the heavy southeast footprint.
Just Tweet something about how we still have some DEI left and Elon will try to buy us.
Truist + USB would be a dumpster fire 🔥 marriage that would be approved under the current administration. We rent floors at Truist’s HQ in Charlotte. The topic has to have come up.
Truist CEO: “Our brand is 💩”
USB CEO: “Our brand is 💩”
Truist: “Are you thinking what I’m thinking?”
USB: “Merger of Equals Part Deux. Brilliant!”
The consultants who run the bank, theoretically would love to be able to sell it and walk away with their golden parachutes. However, there is likely not any realistic buyers, and any deal won’t get approved by the regulators.
Complete bullsh-t. Nobody is working on a merger.
The only way this company can survive is by firing the entire leadership team and bringing back Richard Davis. Just look at the decisions made since he left—every single one has been negative, yet not a single executive has been let go. Meanwhile, thousands of lower-level employees have been laid off. Morale at the bank is at an all-time low—half the employees don’t even know their roles, and the other half don’t want to work. Anyone who merges with us is essentially buying a worse version of Union Bank. Who would want that?