Acquisition Bids For BankUnited
TD Bank Financial, a unit of Toronto-Dominion Bank and a group of private-equity firms, including Carlyle Group and Blackstone Group, along with billionaire investor Wilbur Ross have submitted bids for BankUnited Financial, a report says.
Though, the Federal Deposit Insurance Corporation is running the auction, according to a regulatory filing earlier this month, the bank is likely to be put into receivership if it is unable to raise up to $1 billion in fresh capital to cover escalating losses as part of the sale process.
The bank is expecting a loss of $443 million in second-quarter, up as compared to the loss of $66 million in the previous year.
Moreover, the deadline is expected to be extended as regulators are looking for more buyers.
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