JPM and RBS Sempra

Apparently, JPM is in talks with RBS Sempra to buy them out for $4B (or more). Lazard is advising.

What do you think the likelihood is of this actually going through? Where are the synergies? JP Morgan is already fairly sizeable in the commodities space, and I see a significant overlap between the two companies. Maybe I'm wrong, though.

Regardless, should this deal actually happen, would the Sempra guys in CT move down to Houston? Or...?

Any thoughts would be appreciated.

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