M&A Deal Summary

Bank of America Acquires MBNA

On June 30, 2005, Bank of America acquired financial services company MBNA for 35.0B USD

Acquisition Highlights
  • This is Bank of America’s 4th transaction in the Financial Services sector.
  • This is Bank of America’s 3rd largest (disclosed) transaction.
  • This is Bank of America’s 4th transaction in the United States.
  • This is Bank of America’s 1st transaction in Delaware.

M&A Deal Summary
Date 2005-06-30
Target MBNA
Sector Financial Services
Buyer(s) Bank of America
Deal Type Add-on Acquisition
Deal Value 35.0B USD
Advisor(s) UBS Investment Bank (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

MBNA

Wilmington, Delaware, United States
MBNA, is a independent credit card lender in the world and a recognized leader in affinity marketing, is an international financial services company providing lending, deposit, and credit insurance products and services. MBNA credit cards and related products and services are endorsed by more than 5,000 organizations worldwide.

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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 4 of 12
Sector (Financial Services) 4 of 9
Type (Add-on Acquisition) 3 of 7
State (Delaware) 1 of 1
Country (United States) 4 of 11
Year (2005) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-13 National Processing

Louisville, Kentucky, United States

National Processing, Inc. is a provider of merchant credit and debit card processing services. National Processing supports over 700,000 merchant locations, representing one out of every six MasterCard and VISA transactions processed nationally.

Buy $1.4B
FOLLOWING 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 -
Mergr

Product

Company

Legal