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Goldman eyes up merger with Wells Fargo, PNC & US Bancorp on its shortlist

May 18, 2020

The development was first revealed in a tweet by the publication’s senior correspondent, Charles Gasparino, saying that sources told him Goldman Sachs’ “weakening biz model” would “force a merger.”

The report highlights that the need for Goldman to grow, particularly as the coronavirus has largely shut down deal-making, has prompted a new round of speculation that the investment bank might merge with a big commercial bank, such as Wells Fargo, or even PNC Bank.

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