Monday, October 24, 2005

Independence Community Bank 'sold'

Independence Day!

Why did you sell it! (Don't be sad it was Bashert.)

MarketWatch:

Sovereign Bancorp Inc. (SOV) is expected to pay $42 per share, or a total of $3.5 billion, for New York-area Independence Community Bank Corp. (ICBC) , the Wall Street Journal reported on its Web site Monday afternoon.
The Journal earlier reported that Spain's Banco Santander Central Hispano SA (STD) was in advanced negotiations to take a stake in Philadelphia's Sovereign Bancorp. Sovereign was then reportedly expected to use the proceeds of the Santander investment to buy Independence Community Bank....

Do I hear a $45?

Its' IPO was 10$ it is now at $32.45.
posted by Yeshiva Orthodoxy
at 4:35 PM

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