Countrywide shareholders to vote on BofA deal
Countrywide shareholders are sure to approve the Bank of America takeover at a special meeting on June 25th. The real question is whether Bank of America’s due diligence and Countrywide’s deteriorating loan portfoliio will be enough to scare away the would-be suitor.
From Market Watch on Countrywide’s special meeting:
Countrywide Financial said late Wednesday that it will hold a special meeting on June 25 for shareholders to vote on the planned acquisition of the mortgage lender by Bank of America . Stockholders at the close of business on April 28 are allowed to vote. For the deal to proceed, investors with a majority of Countrywide shares have to vote for it, the company added.