(Reuters) - On May 17, Doral said it agreed to sell a 90 percent stake
to a group led by Bear Stearns Merchant Banking, which would
buy $610 million of stock at 63 cents per share. That
transaction was intended to help Doral repay debt that matures
on July 20 and avert a possible bankruptcy.
Doral said it will promptly review the FBOP offer,
consistent with its obligations under the earlier merger
agreement. Doral shares closed Friday at $1.30.
Read more at Reuters.com Mergers News
to a group led by Bear Stearns Merchant Banking, which would
buy $610 million of stock at 63 cents per share. That
transaction was intended to help Doral repay debt that matures
on July 20 and avert a possible bankruptcy.
Doral said it will promptly review the FBOP offer,
consistent with its obligations under the earlier merger
agreement. Doral shares closed Friday at $1.30.
Read more at Reuters.com Mergers News
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