Bank of America, Countryside may merge

Jan. 10, 2008 at 5:10 PM
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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.

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