Tuesday, September 12, 2006

Revisiting Arizona and Stockmen's Bank

In an earlier post detailing a road trip around Arizona, I had mentioned a few takeover targets, including privately-held Stockmen's Bank.

Well, I don't get to wait for it go public! Zions Bancorp (ZION) today announced that it is buying Stockmen's for around $200 million.

This is a good buy for Zions, which itself, as I mentioned in the same post, is a takeover target for Bank of America, Washington Mutual or Wells Fargo, as it is the best vehicle to enter the Utah and now, with this acquisition, Northern Arizona, markets. Zions stock isn't cheap and so, I will be waiting for a better price, hoping it won't get acquired by then.


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