Wednesday, February 11, 2009

Game On!!! Carlyle Bid for Florida Bank?

Forget Treasury Secretary Geithner's clueless performance yesterday and move your focus to the 70 degree weather of Florida. We have said the true signal to the bottom in the banking sector is when Carlyle Group starts buying into the sector.

Carlyle has tens of billions on the sidelines ready to pounce on the financial sector when they think the market is at its bottom. They have the analysts on board to know what these banks are truly worth and they have the inside connections to understand what the insider plans are. So when they pounce on a bank, it will be with superior knowledge. Word is they are about to pounce.

The Wall Street dealmaker Wilbur Ross and the Carlyle Group are in talks to take over BankUnited, according to FT.

This is the second report of talks involving the largest bank based in Florida and its parent, BankUnited.

FT quoted unnamed “people familiar with the matter” as sources.

“We are not able to comment,” BankUnited spokeswoman Melissa Gracey said in an e-mail.

If this report is accurate, we fully expect the floodgates to open with Private Equity bidding against each other in the financial sector, and the best signal yet that the worst is over.

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