Banco Popular Bids €1.36B For Banco Pastor

Banco Popular Espanolhas made an offer to acquireBanco Pastorfor €1.36 billion,The Wall Street Journalreports. Popular is Spain’s fifth largest bank in terms of market capitalization.

The bank will have €121.8 billion in loans and €98.5 billion in deposits if the bid is successful. Popular will have to issue 381 million new shares, in addition to its existing 1.4 billion to finance the acquisition.

Click here for the story fromThe Wall Street Journal.