M&A Deal Summary

Bank of America Acquires LaSalle Bank

On April 23, 2007, Bank of America acquired financial services company LaSalle Bank from ABN AMRO Group N.V. for 16.0B USD

Acquisition Highlights
  • This is Bank of America’s 5th transaction in the Financial Services sector.
  • This is Bank of America’s 4th largest (disclosed) transaction.
  • This is Bank of America’s 6th transaction in the United States.
  • This is Bank of America’s 1st transaction in Illinois.

M&A Deal Summary

Date 2007-04-23
Target LaSalle Bank
Sector Financial Services
Buyer(s) Bank of America
Sellers(s) ABN AMRO Group N.V.
Deal Type Divestiture
Deal Value 16.0B USD

Target

LaSalle Bank

Chicago, Illinois, United States
LaSalle Bank Corporation is the bank holding company with more than USD 113 billion in assets. Through its subsidiaries, the company has retail and commercial operations in 20 states and 26 cities across the U.S. LaSalle Bank Corporation's subsidiary banks serve individuals, small businesses, middle-market companies and institutions through more than 400 retail locations and 1,500 ATMs.

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Buyer(S) 1

Buyer

Bank of America

Charlotte, North Carolina, United States

Category Company
Founded 1784
Sector Financial Services
Employees212,000
Revenue 98.6B USD (2023)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 6 of 12
Sector (Financial Services) 5 of 9
Type (Divestiture) 1 of 3
State (Illinois) 1 of 1
Country (United States) 6 of 11
Year (2007) 1 of 3
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-11 HealthLogic Systems

Tucker,, Georgia, United States

HealthLogic Systems has been engages in developing new technologies that move providers from paper to more automated, HIPAA-compliant processing. Its broad array of services enable hospitals and other healthcare providers to expedite billing and claims processing, gain efficiencies and reduce costs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-26 Reverse Mortgage Business - Seattle Mortgage

United States

Reverse Mortgage Business has a loan portfolio of 40,000 reverse mortgages, totaling over $4 billion in outstanding balances. Approximately 400 Seattle Mortgage associates will join Bank of America, including a retail sales force of more than 200 sales associates in 25 states and the District of Columbia.

Buy -

Seller(S) 1

SELLER

ABN AMRO Group N.V.

Amsterdam, Netherlands

Category Company
Founded 1720
Sector Financial Services
Employees22,242
DESCRIPTION

ABN AMRO serves retail, private and commercial banking customers in the Netherlands and across the globe. Along with a comprehensive range of products and services, Company offer in-depth financial expertise, extensive knowledge of numerous sectors and an international network supporting our customers' domestic and international operations.


DEAL STATS #
Overall 2 of 5
Sector (Financial Services) 1 of 4
Type (Divestiture) 2 of 4
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2007) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 The Priory Group

Leatherhead Surrey, United Kingdom

Founded in 1980, Priory Group is a UK based operator of facilities for the treatment of mental illness, neurological injuries, addictions and eating disorders, and other conditions such as learning and behavior disorders. More than 30,000 patients are treated each year in more than 450 facilities across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-16 ABN AMRO Bank A.G.

Zurich,, Switzerland

ABN AMRO Bank (Schweiz) A.G. is a provider of private banking products and services. ABN AMRO Bank (Switzerland) AG is a pure Swiss private bank which held EUR 11 billion in client assets under management.

Sell -