After appearing on "The Strategy Session" on Tuesday, Rodgin Cohen, senior chairman of Sullivan & Cromwell, continued the discussion off-air with David Faber, about the Industrial and Commercial Bank of China acquiring the Bank of Asia's U.S. Unit, making it the first Chinese lender to buy a U.S. retail bank.
"This one will be the first and I suspect that it will be approved. If it is, I think it will definitely open the way for other China-U.S. deals. They're not going to be mega deals, but there will be deals," Cohen said.