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Sept. 17, 2021, 8:48 a.m. EDT

Mitsubishi UFJ Financial Group may sell U.S. banking arm

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By Steve Gelsi

Mitsubishi UFJ Financial Group Inc. /zigman2/quotes/200277290/composite MUFG -3.58% is exploring the sale of its U.S. banking unit MUFG Union Bank, about 13 years after it acquired the West Coast lender for $3.5 billion, according to a Bloomberg report published on Friday. Citing people familiar with the deal, the news service reported the Japanese banking giant has held preliminary talks with potential buyers about a deal and may soon hire an investment bank to launch a formal sales process. As mergers heat up between smaller banks to compete with larger players such as JPMorgan Chase & Co. /zigman2/quotes/205971034/composite JPM -3.01% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -2.45% as well as financial technology companies, some overseas banks are mulling the sale of their U.S. operations to benefit from lofty acquisition prices.

/zigman2/quotes/200277290/composite
US : U.S.: NYSE
$ 5.38
-0.20 -3.58%
Volume: 1.20M
Nov. 26, 2021 3:30p
P/E Ratio
6.48
Dividend Yield
3.55%
Market Cap
$70.52 billion
Rev. per Employee
$377,196
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 161.93
-5.03 -3.01%
Volume: 13.62M
Nov. 26, 2021 1:10p
P/E Ratio
10.24
Dividend Yield
2.47%
Market Cap
$493.41 billion
Rev. per Employee
$492,730
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 389.39
-9.80 -2.45%
Volume: 2.69M
Nov. 26, 2021 1:10p
P/E Ratio
6.42
Dividend Yield
2.05%
Market Cap
$133.65 billion
Rev. per Employee
$1.31M
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