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Bank M&A in Provincia de Tejas

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Today the New York Times reports that negotiations are underway between Texas Regional Bancshares and Banco Bilbao Vizcay Argentaria, a large Spanish bank seeking to require it.Banco Bilbao Vizcaya Argentina will acquire Texas Regional Bancshares for about $2.18 billion.
[Update: Since we originally posted this as a deal under negotiation, DealBook has pointed out that the company has confirmed a finalized deal.-]
Banco Bilboa is also the largest bank in Mexico, and does a good deal of remittance business--the practice of immigrants to the US sending money to their country of origin that is popular with many Mexicans and Mexican-Americans.
No word on whether the Minutemen, the border-patrolling opponents of illegal immigration President Bush once referred to as vigilantes, plan on moving patrols to Texas Regional Bancshares branches. (Hey! Look! More reporting! We actually called one but we're still waiting for a return call.)
In the 17th and 18th century Texas was the northeast frontier of the vast Spanish empire in America. And all this time the anti-immigration forces were worried about the Mexicans. Who knew they were a front for the revived Spanish empire.

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