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Wells Fargo to buy Willis?

Market watchers are speculating that Wells Fargo is eyeing insurance brokerage Willis as a potential purchase in lieu of a wealth management deal.

According to Dow Jones, KBW investment bank speculates Wells Fargo could make an offer for Willis Group, which has a $6.2 billion market capitalisation.

The firm speculates that if Wells Fargo were to buy Willis in an all-cash deal at a 30 percent premium to WSH’s Friday closing price of $35.27, the deal would be 12-cents accretive and would boost its Wells Fargo 2013 earnings per share estimate to $3.27 from $3.15.

According to Dow Jones, both companies were not immediately available to comment.

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Published March 01, 2012 at 1:00 am (Updated March 01, 2012 at 7:46 am)

Wells Fargo to buy Willis?

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