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Non-Tech : Canadian vs. US Banks--Better PE and rising C$
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To: Zardoz who wrote (67)6/6/1997 7:59:00 PM
From: marcos   of 230
 
Pasted from Bloomberg;

Canadian Imperial Bank of Commerce's CIBC Wood Gundy Securities Corp. is in talks to buy
Oppenheimer & Co. for about $500 million, according to a person familiar with the situation. An
agreement between the Canadian bank and the New York- based brokerage could be reached in
the next month, though the talks could still fall apart, the person said. The acquisition has been
reviewed by the board of CIBC's parent. Officials at CIBC Wood Gundy in London and
Oppenheimer in New York did not return calls seeking comment.
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