“Mitsubishi UFJ Financial Group Inc. (8306) is poised to announce the 39 billion yen ($471 million) purchase of Bank of America Corp. (BAC)’s stake in their Japanese private banking venture, said two people with knowledge of the matter.
The purchase of the 49 percent holding in Mitsubishi UFJ Merrill Lynch PB Securities Co. will be announced as soon as tomorrow, pending final approval from the boards of both companies, said the people, who asked not to be identified as the talks are private. Japan’s biggest lender will own the whole private bank through two subsidiaries, they said…”
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