Bharper

No Reason for BofA - Countrywide Merger to Fail

There's a very significant reason why this deal will fail-the owners of CFC are likely to vote it down. Bill Miller's Legg Mason value trust owns 15% and in his 4Q newsletter said the deal, at 30% of book value, is "puzzling". Brandes, a classical deep-value investor, owns 10% and is highly unlikely to support the deal. SRM Global owns 5% and has come out in opposition to the deal. Pzena Investment management, also a deep-value investor, owns 4%. That's 35% of shares. For more:
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