By Megan Davies and Paritosh Bansal
NEW YORK, Aug 19 (Reuters) - Spain's Banco Bilbao Vizcaya Argentaria is expected to win the U.S. government-run auction of Guaranty Financial Group Inc, sources familiar with the situation said on Wednesday.
The Federal Deposit Insurance Corp (FDIC) had set a Tuesday deadline for bids on the troubled Texas lender, sources said previously.
Other bidders included a consortium led by financial services executive Gerald Ford that includes several private equity firms, sources have said.
Media reports also cited US Bancorp as a bidder.
The sources declined to be named because the auction is yet to be made public.
An FDIC spokesman said the agency does not comment on open and operating institutions.
((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reuters Messaging: megan.davies.thomsonreuters.com@reuters.net)) Keywords: GUARANTY/ (For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
NEW YORK, Aug 19 (Reuters) - Spain's Banco Bilbao Vizcaya Argentaria is expected to win the U.S. government-run auction of Guaranty Financial Group Inc, sources familiar with the situation said on Wednesday.
The Federal Deposit Insurance Corp (FDIC) had set a Tuesday deadline for bids on the troubled Texas lender, sources said previously.
Other bidders included a consortium led by financial services executive Gerald Ford that includes several private equity firms, sources have said.
Media reports also cited US Bancorp as a bidder.
The sources declined to be named because the auction is yet to be made public.
An FDIC spokesman said the agency does not comment on open and operating institutions.
((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reuters Messaging: megan.davies.thomsonreuters.com@reuters.net)) Keywords: GUARANTY/ (For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.