Business News

View archive | RSS Feed

Receive Free UPI Newsletter

Bank of America, Countryside may merge

Published: Jan. 10, 2008 at 5:10 PM

BuzzUp

Comment

NEW YORK, Jan. 10 (UPI) -- Bank of America was reported Thursday to be in advanced talks to acquire troubled mortgage lender Countrywide Financial.

The Wall Street Journal said it was told the deal could be struck soon.

The market value of Countrywide has plunged to about $3 billion in recent days amid intensifying anxiety among investors over defaults and foreclosures.

There also was reported to be increased speculation that Countrywide could face bankruptcy.

Order reprints

Additional News Stories
Top News Russia, China back U.S. on Iran resolution White House crashers met president Bomb may have caused Russian train wreck S. Korea may send troops to Afghanistan McCain improves voting record	Entertainment News Report: David Hasselhoff hospitalized LOS ANGELES, Nov. 27 (UPI) -- Actor and television personality David Hasselhoff was hospitalized in Los Angeles Friday after having a seizure, RadarOnline.com reported. Winslet, Walz honored in Germany Pearce, Cage set for New Orleans thriller Russian rocket to launch U.S. satellite Harvard acquires Updike papers
Business News Newspaper stops publication after one week GM IPO expected by end of 2010 Economic Outlook: Quiet gains (for now) Economic Outlook: Frustrations build Crude oil prices tumble on Dubai news	Local News [Sponsor] How will the sub prime mortgage crisis affect Washington, D.C.? Arlington Water Main Repaired After Two Workers Electrocuted Md. farm reaps rich harvest with its green-roof business Friends and Family Say Final Goodbyes at Pollin Funeral Flashback 2005: Margaret Hwang Smith and Gary Smith said there is no bubble Swinging Polo Mallets with Tareq and Michaele Salahi