Toronto-Dominion (TD) and Goldman Sachs (GS) Could Team-Up To Buy BankUnited (BKUNA)
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According to reports from the Wall Street Journal, Toronto-Dominion Bank (NYSE: TD) could team up with Goldman Sachs (NYSE: GS) to bid for BankUnited Financial (Nasdaq: BKUNA), as the bank seeks a buyer or faces a possible seizure by regulators.
The FDIC's auction of BankUnited ends today, which was pushed back from last Thursday.
BankUnited had assets of $13.1 billion and deposits of $8.7 billion as of March 31, but was "critically undercapitalized" by regulators in January. The bank was given a deadline to find capital or a buyer, but that deadline has since lapsed without compliance, making the bank subject to enforcement actions.
Other bidders for the bank include a consortium led by former North Fork Bancorp CEO John Kanas, that includes, Carlyle Group, Blackstone Group Centerbridge Capital Partners LLC and WL Ross & Co. Private equity firm J.C. Flowers & Co. could also be interested.
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