Loan Giant Is Deal Target ; Bank of America to Buy Countrywide Financial

Summary


Bank of America Corp., which agreed Friday to buy Countrywide Financial Corp. for about $4 billion, has not decided if Countrywide Financial's loan sales offices will remain open, or if the Countrywide brand will survive after it is integrated into the Charlotte, N.C.-based bank.

"Those decisions won't be made for some time," said Scott Silvestri, a Bank of America spokesman.

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Extract


Loan Giant Is Deal Target ; Bank of America to Buy Countrywide Financial

The deal is expected to close in the third quarter, but the integration of management and operating systems...

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