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US banks targeted by activist investors

They bet that low interest rates, lagging returns and tough rules will propel mergers

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Published Sun, Feb 7, 2016 · 09:50 PM

    New York

    ACTIVIST investors are putting the US banking sector in their crosshairs, betting that headwinds whipping through the industry will accelerate consolidation among lenders.

    While these activist hedge funds have already targeted some major financial companies, such as insurer American International Group Inc and car loan lender Ally Financial Inc, banks have historically stayed out of their sights.

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