Bank of Montreal to Buy GE Capital’s Transportation-Finance Unit

Bank of Montreal pronounced Thursday it had concluded to acquire General Electric Capital Corp.’s transportation-finance business operations in a multi-billion-dollar deal, bolstering a commercial-banking business and expanding a U.S. footprint.

The squeeze cost wasn’t disclosed, yet BMO pronounced a business being acquired had net earning resources of about $8.7 billion during Jun 30 and that a final cost would be formed on a value of those resources during closing, and an vague premium. BMO, Canada’s fourth-largest bank by…

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