LOTrainer
01-11-2008, 10:55 AM
http://money.cnn.com/2008/01/11/news/companies/boa_countrywide/index.htm?postversion=2008011112
NEW YORK (CNNMoney.com) -- Bank of America came to the rescue of embattled mortgage lender Countrywide Financial Corp. Friday, announcing it would buy the company for $4 billion in an all-stock deal.
Countrywide (CFC (http://money.cnn.com/quote/quote.html?symb=CFC&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/372.html?source=story_f500_link)) shares tumbled 16 percent in midday trading on the New York Stock Exchange a day after soaring 51 percent on speculation that the deal was forthcoming. Bank of America (BAC (http://money.cnn.com/quote/quote.html?symb=BAC&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/164.html?source=story_f500_link)) stock edged lower.
NEW YORK (CNNMoney.com) -- Bank of America came to the rescue of embattled mortgage lender Countrywide Financial Corp. Friday, announcing it would buy the company for $4 billion in an all-stock deal.
Countrywide (CFC (http://money.cnn.com/quote/quote.html?symb=CFC&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/372.html?source=story_f500_link)) shares tumbled 16 percent in midday trading on the New York Stock Exchange a day after soaring 51 percent on speculation that the deal was forthcoming. Bank of America (BAC (http://money.cnn.com/quote/quote.html?symb=BAC&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/164.html?source=story_f500_link)) stock edged lower.