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Fifth Third Bancorp Pays $4.7B for MB Financial's Chicago Muscle

from Reuters via U.S. News & World Report

U.S. regional bank Fifth Third Bancorp has agreed to buy smaller rival MB Financial Inc in a stock-and-cash deal valued at about $4.7 billion, as it looks to expand in Chicago and broaden its middle market customer base. A windfall from last year's Republican tax overhaul has encouraged more investment among mid-sized U.S. lenders and banks are also hopeful that legislative moves to roll back some rules on capital requirements will free up more cash. more

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