... active in retail banking, wholesale commercial banking, middle-market banking, private 90 Mergers and Acquisitions in Banking and Finance banking, corporate finance, trading, investment banking, ... *Denotes firms combining commercial banking and securities activities 72 Mergers and Acquisitions in Banking and Finance Table 3-3 Potential for Cross-selling: Citigroup Product Lines Distribution ... U.S banking industry acquisitions was below 2. 0, averaging 1.5 and ranging from 1.1 in 1990 to 1.8 in 1985 In two years, the price-to-book ratio exceeded 2. 0 in 1986 it was 2. 8 and in 1993 in...