Guaranty Financial: Private Equity Bidders Not Allowed Even as Monday's Deadline Approaches

Tyler Durden submits:

The Financial Times is reporting that even as the FDIC probably managed to avert disaster by pushing off Colonial on to BB&T's (BBT) lap on Friday, its troubles keep escalating. Sheila Bair is trying hard to sell Texas' Guaranty Financial (GFG) ahead of a Monday deadline, however it may have used up its jokers on Colonial, which was supposed to be the "easy sell."

Guaranty’s fate has become intertwined in recent weeks with that of Colonial Bank, an Alabama-based bank that was forcibly closed on Friday and largely sold to BB&T, another regional bank, in an FDIC-backed deal.

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