Merger and Acquisitions: IBM Might Bid For ResCap Mortgage Assets
International Business Machines Corporation (NYSE:IBM) is considering putting forth an offer for ResCap’s mortgage-servicing assets, jointly with Ocwen Financial Corporation (NYSE:OCN) on Oct. 23rd, according to The New York Post. Such a move could put IBM into a bidding match with Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B), which might be partnering with a smaller firm. Some observers opine that Warren Buffett is in the mix only to get Fortress Investment Group (NYSE:FIG) to raise its bid, which would permit Berkshire to receive more for its ResCap debt holdings.
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