Bloomberg reported that Wells Fargo & Co. and Toronto-Dominion Bank are exploring offers for a batch of U.S. commercial-lending businesses General Electric Co. is selling as whittles down its finance arm.
According to the Bloomberg story, Capital One Financial Corp. and U.S. Bancorp are also weighing bids for the businesses that together have about $40 billion in loans.
The lenders, notes Bloomberg, have signed non-disclosure agreements to review financial information about four business lines - direct corporate lending, inventory finance, equipment leasing and transportation finance - the people said. Those units make up the bulk of G.E.’s U.S. commercial-lending and leasing arm. Each business has $8 billion to $12 billion in assets, the people said.
View the entire story Wells Fargo, TD Explore Bids for GE U.S. Lending Assets here.