Bank of America to buy Countrywide for $4 billion
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Bank of America Corp said on Friday it would buy battered mortgage lender Countrywide Financial Corp for $4 billion, a move that could avert one of the biggest collapses in the U.S. housing crisis.
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Bank of America Corp  said on Friday it would buy battered mortgage lender Countrywide Financial Corp  for $4 billion, a move that could avert one of the biggest collapses in the U.S. housing crisis.
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Bank of America Corp  on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp  for about $4 billion in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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U.S. stocks gained on Thursday after news Bank of America  is in advanced talks to buy struggling mortgage lender Countrywide Financial Corp .
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Countrywide Financial Corp  shares on Thursday fell below the $18 price at which Bank of America Corp  may convert its $2 billion investment into common stock.
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Countrywide Financial Corp ,  the largest U.S. mortgage lender, on Tuesday offered to  refinance or restructure up to $16 billion of adjustable-rate  mortgages through the end of 2008.
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The fourth-largest U.S. bank said it benefited from the acquisition of Golden West Financial Corp. and higher loans.
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Bank of America Corp  is in  advanced talks to buy struggling Countrywide Financial Corp  , the largest U.S. mortgage lender, several people  familiar with the matter said on Thursday.
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Bank of America Corp is in advanced talks to buy struggling Countrywide Financial Corp, the largest U.S. mortgage lender, several people familiar with the matter said on Thursday.
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The deal rescues Countrywide, Americaâs largest mortgage lender and expands the financial services empire of Bank of America, the nationâs largest consumer bank.
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Bank of America Corp, the  second-largest U.S. bank, is in advanced talks to buy  Countrywide Financial Corp, the largest U.S. mortgage lender, a  person familiar with the matter said on Thursday.
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Bank of America Corp. said Friday it has agreed to buy Countrywide Financial for $4 billion in stock, a deal that both rescues the country's largest mortgage lender and expands the financial services empire of the nation's largest consumer bank
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Shares in Barclays Bank have surged 4% on speculation it may receive a takeover bid from Bank of America.
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Countrywide Financial Corp , the largest U.S. mortgage lender, said on Thursday that it had lined up $12 billion of secured financing to help cope with a housing slowdown that has reduced loan demand and will lead to widespread layoffs.
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Countrywide Financial Corp said on Thursday it has lined up $12 billion of financing to help weather a housing slowdown that will lead to widespread layoffs.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected fourth-quarter loss on Tuesday, as a sinking housing market caused more borrowers to fall behind on payments.
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The deal will significantly bolster Bank of Americaâs position in the mortgage market while rescuing Countrywide from the jaws of possible bankruptcy.