Tuesday, November 21, 2006

TD Banknorth Buyout Could Prelude Sovereign Bancorp Takeover

According to the DealScape blog, the buyout of TD Banknorth (NYSE: BNK) by Toronto Dominion Bank yesterday could prelude a buyout of Sovereign Bancorp Inc. (NYSE: SOV) by Banco Santander, as the two Northeast banking rival have a history of coping each others strategies. SOV takeover talk has been picking up recently.

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