M & A Alert: Bank of America to Acquire Countrywide

Manatt, Phelps & Phillips, LLP
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Bank of America Corp. announced today that it has agreed to acquire Countrywide Financial Corp. in an all-stock transaction worth approximately $4 billion. The deal follows Bank of America?s $2 billion investment in Countrywide in August 2007, and will make Bank of America the nation's largest mortgage lender and loan servicer.

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