With rumors flying around about American Express being pursued by acquirers like Citigroup, I would like to offer the following “white knight” strategy for AMEX to reverse its sagging stock price and remain independent.
No, I’m not crazy. Just hear me out on this one. I would like to describe a proposed “hat trick” that puts the AMEX stock on steroids and creates the buyer of choice for well-performing, but slow-growing regional banks around the country. Here’s my dream transaction:
At the end of the day, AMEX and regional banks could join together to create a national high-brow banking franchise that doesn’t screw with the successful customer focus that regional banks have today, but it adds the stock liquidity, brand, infrastructure, investment and e-commerce products that all financial institutions are craving to compete in the future.
So this message goes out to American Express CEO Ken Chenault: “Dude, call me…I’ve got an idea.”