It might be good news that BAC is raising its offer to JD in order to reach a deal.
Once it is done (may be this week according to the following news) , the last overhung in BAC’s growth perspective will be gone.
BofA Said to Near Mortgage Deal After Raising Offer (Bloomberg news)
Bank of America Corp. is nearing a settlement with the Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the runup to the financial crisis, according to people familiar with the talks.
Representatives from the bank were at the Justice Department today to discuss the terms, and an accord could be reached this week, said two people, who asked not to be named because the negotiations are confidential.
The amount of the settlement under discussion has ranged from $13 billion to $17 billion, one of the people said. The discussions include how much money will be paid in cash and how much in consumer relief.
Lawrence Grayson, a Bank of America spokesman, declined to comment on the negotiations.
About Timeless Investor
My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.
TimelessInvestor
BAC mortgage litigation is coming to the end?
It might be good news that BAC is raising its offer to JD in order to reach a deal.
Once it is done (may be this week according to the following news) , the last overhung in BAC’s growth perspective will be gone.
BofA Said to Near Mortgage Deal After Raising Offer (Bloomberg news)
About Timeless Investor
My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.