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Selling Sovereign

Sovereign Bancorp Inc. (NYSE: SOV), whose share price is down 10 percent so far this year, reports in an SEC filing today that a major shareholder, Meridian Capital Funding Inc., intends to sell up to 3.6 million shares of the bank. It says Meridian may sell at market prices or through privately negotiated deals. Sovereign won't receive any proceeds from the sale. - Jonathan Berr

Posted by phillyinc on June 5, 2007 6:09 PM |

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This page contains a single entry from the blog posted on June 5, 2007 6:09 PM.

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