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The Canadian Imperial Bank of Commerce (CIBC) and Barclays Bank PLC have signed an agreement to combine their retail, corporate and offshore banking operations in the Caribbean to create FirstCaribbean International Bank. In principle, it appeared that both parties were agreeing to a combination of their assets to form a new entity, in which case a new holding company could be constituted to absorb the assets being merged. Alternately, as Barclays interest in the merger was substantially greater than that of CIBC, the transaction could be construed as an outright purchase of the CIBC interests by Barclays. The problem with this second approach, however, was that Barclays Caribbean presently had no separate legal form in the region. This case illustrates the procedures for accounting for mergers and acquisition, and lends itself to discussion on a myriad of issues and concepts. This case may be taught on a stand alone basis or in combination with any of the four additional cases which deal with various functional issues regarding the actual merger/integration which occurred. The four additional cases are: (1) Harmonization of Compensation and Benefits for FirstCaribbean Bank ''9B04C053''; (2) Information Systems at FirstCaribbean: Choosing a Standard Operating Environment ''9B04E032''; (3) CIBC-Barclays: Should Their Caribbean Operations be Merged? ''9B04M067''; and (4) Note on Banking in the Caribbean ''9B05M015''.