IXE Sale Seen Unlikely Below 2x Book

Oct 5, 2010

Mexico’s IXE Grupo Financiero is unlikely to sell itself for less than 2x book value, according to a Mexico City based investment banker familiar with IXE’s strategic thinking. “A deal would get done at north of 2x book,” according to the banker. IXE trades around 1.62x book following news of a possible merger with Banorte. A second New York...

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