Sovereign (SOV) Confirms Advanced Discussions With Banco Santander
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Sovereign Bancorp (NYSE: SOV) confirmed that it is engaged in advanced discussions with Banco Santander, S.A. (NYSE: STD) regarding a possible business combination involving the two companies.
Sovereign said it is not possible currently to know whether such conversations will lead to an agreement or not and there can be no assurances that an agreement will be reached or that a transaction will be consummated. Sovereign does not intend to comment further until an agreement is reached or discussions are terminated.
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