Bloomberg reports that Capital One is near a takeover of ING Direct, the US online banking subsidiary of Dutch Bank ING (one of my half-dozen alma maters).
If the deal is all-cash, that would mean a euro-positive M&A flow of EUR 6.4 bln as ING brings the cash home.
Large deals like this take months to close, so the bulk of the flow is someway off but often a portion is hedged early in the process.
