Countrywide shareholders to vote on acquisition by Bank of America on June 25

By Lisa Kerner

Charlotte, N.C., May 28 - Countrywide Financial Corp. shareholders will vote on the company's business combination with Bank of America Corp. at a special meeting on June 25 at noon ET.

The record date for the meeting is April 28, a Countrywide news release said.

In January, Bank of America agreed to buy Countrywide for $4.1 billion.

It was previously reported that under the companies' agreement, Countrywide stockholders will receive 0.1822 shares of Bank of America stock in exchange for each of their shares. The deal valued Countrywide stock at $7.16.

With the acquisition, Bank of America said it will become the United States' largest mortgage lender and loan servicer, benefiting from Countrywide's extensive retail, wholesale and correspondent distribution networks.

Countrywide is a diversified financial services provider based in Calabasas, Calif.

Bank of America, based in Charlotte, N.C., is a holding company that provides banking and financial services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.