Will Manulife come to CIBC’s rescue?
19 December 2007
With Citibank, Morgan Stanley et al tapping strategic investors for a major capital top-up, the rumour that Manulife is prepared to take a 10% stake in CIBC should be taken seriously.
How many years ago was it that MFC was worth 10% of its current market cap? I think it was 13 years ago when it was valued at $6 billion, versus $61 billion today – almost three times CIBC’s market cap.
MRM
One Response to “Will Manulife come to CIBC’s rescue?”
December 20th, 2007 at 10:27 am
Maybe the City of Calgary/Government of Alberta will come in with a rescue plan. There has been a persistent rumour that they’ve been trying to convince CIBC to move its head office from Toronto to Calgary.