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World’s Top Vulture Banks
With the world's markets in meltdown and bailouts aplenty, it's a dreadful time for banks and other financial companies. Yet amid the mayhem, some better-capitalized overseas institutions, while not insulated from plummeting stock prices, are spying buying opportunities.
Among them, Japan's megabanks—long criticized for being too conservative—are scouring the globe for investment opportunities, such as Mitsubishi UFJ's $9 billion deal to snare 21% of Morgan Stanley (MS), Spain's Banco Santander and France's BNP Paribas have all sealed big ticket deals. Others such as Britain's Barclays and Japan's Nomura are buying chunks of the now defunct Lehman Brothers.
While it's still early days during the current crisis, here's a look at some of the possible winners.
