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October 14, 2008 · 7:43AM

Santander Acquires Sovereign For $1.9B

Source: Wikipedia Commons

Source: Wikipedia Commons

Spain’s Banco Santander agreed Tuesday to acquire Sovereign Bancorp in a $1.9 billion all-stock transaction. Santander already owns a 24% stake in the Pennsylvania-based bank, which has been weighed down in recent quarters by bad mortgage loans and securities. (WSJ)

Categories: Business & Finance Today · Financial Services

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