NEWS ABOUT: LaSalle Bank
LaSalle Bank stories: 2 news briefs
Talks between bank and troubled mortgage giant well advanced
Wall Street Journal Jan 10, 08 3:21 PM CST
(Newser Summary) -
Bank of America is in advanced talks to buy troubled Countrywide, the Wall Street Journal reports. The Charlotte-based bank could be on the brink of acquiring the US' largest mortgage lender, whose market value has plummeted to $3 billion—about 2 months' profit for BofA—as foreclosures continue to dent profits. It's still unclear if the Federal Reserve would approve of an even-more-giant BofA, the second largest bank in the nation.
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$96B offer dwarfs Barclays proposal,
but legal woes persist
Wall Street Journal May 29, 07 9:02 AM CDT
(Newser Summary) -
Refusing to take no for an answer, a coalition led by Royal Bank of Scotland today submitted a renewed $95.6 billion bid for ABN Amro. The offer overshadows a competing $86 billion offer from Barclays, but legal wrangling over the sale of LaSalle Bank continues to bog down the RBS group's proposal, the Wall Street Journal reports.
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