Capital One said Thursday it would buy ING Direct, the online banking unit of ING, in a $9 billion deal that would transform it into the fifth-largest US bank in terms of deposits."Capital One will acquire ING Direct from ING Groep (Amsterdam: INGA.AS - news) in a stock and cash transaction valued at $9.0 billion," the US bank said in a statement announcing its deal with Amsterdam-based ING.
"Upon closing, Capital One will become the fifth largest depository institution and the leading direct bank in the United States."
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