Thursday, June 30, 2005

Bank of America to Buy MBNA

Bank of America (BAC) announced today that it will buy credit card giant MBNA (KRB) for $35 Billion in cash and stock. MBNA is up over 25% from yesterday's close. This deal has been in the works for a while. Capitol One (COF) and Metris (MXT) are trading higher off the news. I think Metris has a better chance of being taken over because of the 840 million dollar market cap compared to 20 billion for Capital One.


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