Chicago Tribune (06/06/08)
Bank of America Corp.'s acquisition of subprime mortgage lender Countrywide Financial Corp. has been given the green light by the Federal Reserve, and the deal is now expected to be finalized in the third quarter. The sale will go up for a vote before Countrywide shareholders on June 25. Once the deal closes, Bank of America will control 10.9 percent of the nation's insured bank deposits, or $773.4 billion. The all-stock deal will cost the company approximately $4 billion.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment