Just 10 days into the new year and the Seahawks have advanced to the second round against Green Bay (my prediction was, sadly, is that they lose this game after advancing last Saturday, but I hope I’m wrong). And then this headline appears, potentially fulfilling my fourth prediction:
“Bank of America in talks to buy Countrywide, report says:
By The Associated Press
LOS ANGELES — Bank of America is in advanced talks to acquire struggling Countrywide Financial, The Wall Street Journal reported today on its Web site, citing unidentified people familiar with the situation.”
Now of course, this is far from a done deal. And I have to admit I nearly sold my CFC when I read that they were denying bankruptcy rumors (seems like those denials are always a harbinger of a coming reality), but this would be a great acquisition for BoA. I’m sure they’d have to pay a premium over current pricing, but CFC can use the cash, and BoA can use that terrific sales network…There will be lots of interesting news in coming months in this industry, so make sure those Wall Street Journal are paid up!
Update 1/11: Wall Street Journal reports that this deal has moved from advanced talks, to nearly done deal. Didn’t see a price listed but the company is trading with market cap of around $4b this week.