Union Bank Of California Buys Jackson Federal Bank From UK Prudential

UnionBanCal Corp, the parent of Union Bank of California, is to buy Jackson Federal Bank from Britain's Prudential insurance company for $305 million, adding 14 branches in Southern California. Union Bank of California will pay $167.75 million in cash and

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UnionBanCal Corp, the parent of Union Bank of California, is to buy Jackson Federal Bank from Britain’s Prudential insurance company for $305 million, adding 14 branches in Southern California. Union Bank of California will pay $167.75 million in cash and $137.25 million of UnionBanCal common stock for Jackson Federal.

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