Entries tagged "Sovereign Bancorp Inc."
The contraction of U.S. banks continues as Banco Santander SA, Spain's largest lender, agreed to buy the 75% of Sovereign Bancorp Inc. that it does not already own for $1.9 billion in stock. The move comes after the U.S.' largest remaining thrift asked its biggest shareholder for an offer....
Over the last several weeks, Spain's Banco Santander SA has been linked in merger talks with several American banks such as Washington Mutual Inc. and Wachovia Corp. The Madrid-based bank fell short of those two targets. Now, Santander is reportedly close to acquiring a familiar face in the form of Sovereign Bancorp Inc. of Philadephia. ...
