Jan
14
New Corporate Raider Enters Picture, With Eye on a Sale of Ally
By
Ally Financial’s initial public offering in 2014. The bank’s share price has slumped 31 percent over the past year.CreditBrendan Mcdermid/Reuters
When the financier Saul P. Steinberg tried to take over Chemical Bank in 1969, he drew the ire of the governor of New York.
Alfred Lerner, the former owner of the Cleveland Browns, netted as much as $58 million in a deal that shook up a Midwest bank in the 1980s.
And in perhaps one of the most renowned shareholder activist campaigns at a big bank, the investor Michael F. Price took aim at Chase Manhattan, which ultimately merged with Chemical Bank in 1995…
New Corporate Raider Enters Picture, With Eye on a Sale of Ally
