M&A Deal Summary

Citizens Financial Group Acquires Charter One Financial

On August 31, 2004, Citizens Financial Group acquired financial services company Charter One Financial for 10.5B USD

Acquisition Highlights
  • This is Citizens Financial Group’s 27th transaction in the Financial Services sector.
  • This is Citizens Financial Group’s largest (disclosed) transaction.
  • This is Citizens Financial Group’s 28th transaction in the United States.
  • This is Citizens Financial Group’s 1st transaction in Ohio.

M&A Deal Summary
Date 2004-08-31
Target Charter One Financial
Sector Financial Services
Buyer(s) Citizens Financial Group
Deal Type Add-on Acquisition
Deal Value 10.5B USD

Target

Charter One Financial

Cleveland,, Ohio, United States
Charter One Financial, Inc. operated as the holding company for Charter One Bank, N.A., which offered a range of deposit products, consumer loans, business lending, and commercial real estate loans.

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Buyer(S) 1

Buyer

Citizens Financial Group

Providence, Rhode Island, United States
Category Company
Founded 1828
Sector Financial Services
Employees17,800
DESCRIPTION

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide banking products and services.

DEAL STATS #
Overall 28 of 35
Sector (Financial Services) 27 of 30
Type (Add-on Acquisition) 24 of 30
State (Ohio) 1 of 1
Country (United States) 28 of 35
Year (2004) 3 of 3
Size (of disclosed) 1 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-05 People s Bank Credit Card Operations

United States

People's Bank credit card operations provides various credit card products and services for individuals.

Buy $2.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 GreatBanc

Lisle, Illinois, United States

GreatBanc, Inc. which offered a range of deposit products, consumer loans, business lending, and commercial real estate loans.

Buy $180M
Mergr

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