CIBC says it in talks on potential $2 billion U.S. acquisition

April 23, 2015 3:43 PM

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CIBC says it in talks on potential $2 billion U.S. acquisition

CALGARY (Reuters) - Canadian Imperial Bank of Commerce (CM.TO) is in talks with several U.S. companies on a potential $2 billion wealth-management and private-banking acquisition, its top executive said in an interview.

But Chief Executive Victor Dodig said CIBC, which has been eyeing the U.S. wealth management space for a while, must be patient as such companies don't come cheap.

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