Jamie Dimon says JPMorgan could spend $20 billion on an acquisition
JPMorgan Chase Chief Executive Jamie Dimon said the bank is prepared to spend up to $20 billion on an acquisition and is 'on the lookout' for opportunities. CNBC reported that a deal of that size would rank among the largest in the bank's history and could invite regulatory scrutiny.
JPMorgan Chase Chief Executive Jamie Dimon said the bank could spend up to $20 billion on an acquisition if the right opportunity arose, adding that JPMorgan is 'on the lookout.' CNBC described the remark as a notable signal from the largest US bank by assets.
A deal of that size would be among the largest in the bank's history and, because of its scale, could invite regulatory scrutiny. Dimon did not specify which areas were of interest; in recent years the bank has made smaller acquisitions in fields such as technology and asset management.
The comments came amid an ongoing debate over whether appetite for mergers and acquisitions in the US financial sector is reviving. This article is for general information and is not investment advice.
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