Since August, the stock price of Countrywide (NYSE: CFC) has had a decent rally. And, it looks like part of it has been from rumors of a takeover.
Well, according to a report from the Financial Times, there may actually be some credence to this scenario. The suitor? Bank of America (NYSE: BAC).
However, the first step may be an alliance. But, why not just ultimately make it a merger?
Actually, investors are taking things seriously. On the news, Countrywide's stock price increased 4.24% to $42.
Already, Bank of America is #1 in deposits and #1 in credit cards. Hey, why not #1 in mortgages?
Besides, after last year's deal for MBNA, Bank of America is probably ready for another mega deal.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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